NASDAQ Official: More Financial Problems Inevitable

An official of the NASDAQ OMX group which operates one of the nation’s best known financial markets told the Westport Rotary Club today that despite the best efforts of U.S and European regulators, new challenges inevitably will affect world financial markets in the future. Peter Strandell, senior vice president, and group treasurer, finance of NASDAQ OMX, said while U.S and European regulators are instituting measures to mitigate the system risk in certain financial instruments, everyone needs to be prepared for future innovation and how that could affect the financial markets. “The market is global today, but unfortunately regulation is not,” he said. He said financial markets have a short memory and “something is going to happen again. Whatever we put in place, it will be something for the industry unknown today that will trigger future financial turmoil.” (CLICK TO ENLARGE) Contributed photo