William O'Brien

In an increasingly intense standoff by the old school exchanges and the new cabal of electronic communication networks (ECN) against IEX's speed-bump, Nasdaq has threatened to sue the Securities and Exchange Commission, according to Wall Street Journal. IEX has been a thorn in the side of...

William O'Brien is speaking at the Bloomberg 2010 Hedge Fund Conference and he is saying that removing proprietary trading is detrimental to everyone. He refutes the idea that investing is a zero sum game because of time horizons and the loss of liquidity which prop trading gives, hurts everyone.