The New York Stock Exchange recently elected Peter Costa, a senior vice president at BNY Direct Execution, to the position of senior floor official. Costa's appointment will obligate him to monitor the NYSE trading process, which includes mediating disagreements and errors, and providing guidance to resolve trading issues with specialists or brokers.
While Costa spent the last six years as a floor official at the NYSE, his new senior position will grant him, along with the other 17 senior floor officials, more responsibility, he says. "It is a challenge to maintain fair and orderly markets where we can all still be proud of what we do," he explains.
One of Costa's biggest tasks, he says, will be to reestablish investor trust in the NYSE. "We need to re-earn the confidence of our customers. By making fair and equitable decisions, I will have helped make sure that the integrity of the building is maintained."