A Letter from our Chairman

A Letter from our Chairman



by John Daley

As we approach year end, there are no signs that market-structure issues are slowing down. Comments for the proposed tick-size pilot program, which may change how small-cap stocks trade in the future, are due Dec. 22. We at the STA are working on putting together our third comment letter on the issue (see STA letters). I encourage each of you to look at the proposal and make your voices heard.

It has been my great honor serving as the Chairman of STA for 2014. For me, years ago, it all started with a passion to be more involved. I wanted to be a part of the process of all the changes that were going on in our industry and wanted to be proactive, not just reactive to them.

“I encourage each of you to get more involved, learn, speak up, be proactive, be positive, and remember that this is still a people business.”

I will say that 2014-2015 will go down as one of the most important in the history of changes for U.S. equity market structure. We will continue to make our voices heard on behalf of our firms, clients, and our industry. The STA has always believed that all voices should be heard; buy side, sell side, exchange, ATS, and vendor. I encourage each of you to get more involved, learn, speak up, be proactive, be positive, and remember that this is still a people business.
I am excited to hand off the baton in 2015 to my good friend Rory O’Kane and I am confident that he will continue the legacy of strong leadership for this great organization. I am looking forward to joining an amazing group of past chairs who have led not only the STA but our industry.

A special thanks to my family, my firm, my clients, the STA board, and my many friends in this great business. This is always a good time of year to reflect and set goals, so as you think about how much weight you want to lose, I challenge you to think about what tools that you want to add to your trading tool belt in 2015. I also want to wish all of you a safe and happy holiday season and please remember what is most important: family.