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NYSE Euronext CEO Duncan Niederauer weighs in on the exchange’s new logo, investing in growth and the Volcker Rule.
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Stocks now quarter past the hour every fifteen minutes we do -- the -- -- down a 105 points as we speak.
There you go concerns about Europe once again and what's the future with Greece -- the NYSE Euronext CEO Duncan Niederauer standing by with the -- Data McConnell thank you so much it's our pleasure -- -- -- business and I'm Duncan Niederauer with us.
Here today and let's kick it off by just starting -- -- a new logo.
I tell us what it is.
So what we we thought it was time to refresh the logo and we wanted to logos that spoke more to what we really -- and what we think we're going to be as a company so we wanted something that said.
We have this great community had -- we unlock the potential we are a global company that is the trans Atlantic company.
So how to replace the portals was something that was a little more global.
And also -- -- call I wanted to just be something that evoked optimism and dynamism into the -- -- so basically it's an abstract representation.
I've noticed -- our global Leo and I noticed that I had a lot of greens and blues growth optimism and that has had this whole global.
Be able to and that's really what -- NYSE Euronext is -- and now you're slowing growth growing -- when you talk about growing the exchange that.
That one's gonna be your number one and two -- to keep.
This place on the night.
What part part of it investing in the the physical plant -- want to make everybody very clear that this is take critically important part of what we do is just building a global company.
And the community that represented in this building every day is a huge part of that community whose potential would try -- block grants so this will be court of the brand.
This will be core to the strategy going forward at the same time.
You know we need to grow the post trade services business on the derivatives business.
All right proceeds and then also the derivatives business I wanted to get to the -- I want to talk about that because we've seen so much going on with JPMorgan.
And I want to talk about the evolution of your customer -- your order flow and -- the Volcker -- We'll play apart into what you see here but I guess on the outlook for the rest of the day and I can't -- -- any consumer excellent.
Content let's let's start with the JPMorgan.
It's it's unfortunate -- going to hurt confidence a little bit.
But let's make sure we understand what it was what was and I think he's doing a great job.
Being very transparent and he's being very expeditious and I think trying to get to the bottom of it so let's see what it was before everybody over reacts.
Secondly it's not surprising that this is that we have more conversation about the Volcker -- it's not just gonna be about that.
This will create probably another whole discussion around.
The financial regulation go far enough.
Oriented movie or not and -- so let's see where that -- yeah a lot of conversely anything rather than what it's gonna do you have to raise rates actually.
And -- -- the customer base I think has already anticipated it's.
Its implementation in some form and what you're seeing is a lot of -- not much of the proprietary.
Sell side firms business really would that wasn't a big part of the volume bigger part of the problem business was the high frequency guys some of the hedge fund active.
The Volcker -- doesn't really change anything -- just changes it to the big banks with some of the big banks have already done is spin those groups have.
So we're still seeing volume coming in from them just enough -- And that he used so it's really not that different.
All right and we talked about on the NYSE Euronext which of course a lot of it was at the end -- the interest.
In in light of the greatness clearing house part of it -- foreign derivatives dealer index up.
You know some -- actually saying and -- -- see right here become clearing house.
So we in the in the US it's a little different we are already clearing house through our our partnership with the PC and we'll be calling my PC for derivatives.
The clearing house for equities in the US unlike in Europe.
The clearing house is BP says that's an industry utility it's unlikely that the NYSE would ever be.
That business but we -- already here co owner in -- NY PCS -- will be cleared derivatives I would say that's her yeah.
Are -- congratulations on the new.
It's love our guidance -- too much it costs are the end and data all those sounds like you're pretty comfortable it.
I I've always said from the beginning the -- on the vocal in whatever form it gets implemented you have to allow market making continuous to -- the liquidity for the buy side.
So I I never thought it was gonna be that far reaching a little -- you more about it this week that company.
Thank you thank you for joining.
