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trading titan calls for overhaul of us securities regulatory framework
Don Wilson, founder of DRW Holdings LLC, advocates for a complete overhaul of the U.S. securities regulatory framework, suggesting the elimination of both the SEC and CFTC. He argues that the ongoing friction between the two agencies is counterproductive and calls for the establishment of a new regulatory body.
trading firms rise as new leaders in wall street market dynamics
Trading firms like Jane Street and Citadel Securities have surged ahead of traditional investment banks, capitalizing on electronic trading advancements and regulatory changes. With average employee pay at Jane Street exceeding $900,000 compared to Goldman Sachs' $340,000, these firms dominate markets, handling vast trading volumes and reshaping Wall Street's landscape. As they expand into various markets, they pose new regulatory challenges, highlighting a shift in the financial ecosystem where banks must adapt to a more competitive environment.
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