Low Latency Hype, Exchanges Go On Crisis Control, Dimon Talks Back, and More
5. Epic Fail
We as an industry failed our investors. It’s unfortunate that it occurred. It was a technological failure of a piece within our industry of one of our exchanges. But it was more of a crisis management failure.
— Joe Cangemi, head of equity sales and trading at Convergex, speaking at a SIFMA panel on equity market structure.