SIFMA Executive Vice President Randy Snook Remarks At SIFMA 2016 Operations Conference & Exhibit

SIFMA Executive Vice President Randy Snook delivered opening remarks at the 43rd Annual Operations Conference in Miami Beach.

Good morning. I’m Randy Snook, executive vice president of business policies and practices at SIFMA. It’s my pleasure to welcome you to our 43rd Annual Operations Conference. SIFMA is pleased to provide this forum for industry leaders, regulators and solution provides to address key issues impacting the capital markets, through the lens of the operations expert.

This event was first held back in 1973 – when the average cost of a new home was just under $30,000, financial services were delivered by phone and newspaper, and I’m guessing some of you were not yet born. The average daily trading volume on U.S. stock exchanges was just 25.8 million shares, which regularly overwhelmed firms. It was commonplace for trades to fail, and the markets were inaccessible to many investors.

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