Exchange takes Barfield on board
Tuesday 30 May 1995
This will bring Mr Barfield, director of investment at insurance giant Standard Life, face to face with representatives of market-makers such as Smith New Court and SG Warburg who already sit on the board.
Mr Barfield admits he is in a small minority even among institutional investors in his views. What particularily exercises him is the market- makers' ability to delay notification of big share trades, and the prices at which they are made. This has been hotly debated during and after the recent Securities and Investments Board investigation into market- makers' privileges.
"We as a house are worried about the transparency of the market," Mr Barfield said. "Transparency matters because it will increase liquidity. More users will have the confidence to invest." He said institutions might not be getting the best price possible under the present system, because other secret market-makers' trades would be going on without their knowledge.On the other hand, many institutions were prepared to go along with this, trusting their market-makers' argument that current practice helped them to increase liquidity.
The issue came down to confidence. "The more people believe the quotes they see and the deals they see, the more they are likely to deal," he said.
The exchange has appointed two other new board members, both from outside the market-making sector - Graham Allen, managing director of ICI Investment Management, and Nigel Sherlock, chairman of Wise Speke, a private client stockbroker.
- 1 Crystal meth addict 'gouged out his eyes and ate them' while high on drug, Australian MP claims
- 2 Saudi Arabia 'seeking to head United Nations Human Rights Council'
- 3 Group of students refused entry to Leicester nightclub 'because they are black'
- 4 Irish people are travelling home from all over the world so they can vote to legalise gay marriage
- 5 Arsenal fan asks the Queen for tickets to the FA Cup final - gets a reply from Buckingham Palace
Ireland's same-sex marriage vote: Dublin in party mood ahead of historic poll result
Saudi Arabia 'seeking to head United Nations Human Rights Council'
The ten most unequal developed countries in the world
Toddler throws a tantrum at the White House – in front of Barack Obama
Irish people are travelling home from all over the world so they can vote to legalise gay marriage
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
Report finds that Britain's wages are the most unequal in Europe
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...