www.tradersmagazine.com/issues/20_281/100501-1.html?typ -
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Published on: 5/1/2008
Last Visited: 7/3/2008
Robert Arancio takes the reins as president of the Security Traders of New York (STANY).Arancio, head of trading at Neuberger Berman, replaced Stephen Kay, Knight Capital Group, as STANY's leader.
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A sellside trader at Lehman Brothers for most of his career, Arancio was featured in a Traders Magazine story last month in which he discussed a number of topics, including STANY's priorities during his tenure, as well as the evolution of trading and his move to the buyside last year.
On trading technology: "Every major bulge bracket firm has a multitude of choices for execution, but you have to know which tool is working in which [type of] market," said the former co-head of liquid markets at Lehman.
He also said he thought liquidity was harder to get in the days of Nasdaq, when it was a dealer market in practice as well as in name."There was less volume.Liquidity was more of an issue than it is today.It was a much harder market to execute in," he said.Arancio also said traders need to increase their understanding and knowledge of other asset classes beyond equities.