“The area for me that actually induces falling of trust is where a particular counterparty makes a mistake and then is allowed to get away with that mistake with little or no penalty. That is not reasonable. The point of the original statement of the markets is the motto of the London Stock Exchange, ‘dictum meum pactum’, my word is my bond. In a modern market, my word is my bond and indeed my keystroke is also my bond”, says Patrick meaning that when users’ orders hit the exchanges they will stand by them.
Following a visit to Cinnober’s head office in Stockholm, industry expert Patrick L Young gave us an in-depth interview on various hot topics in the financial industry. In the second video from this session, Patrick shares his view on the many recent glitches and how these have affected the industry.
An earlier video of Patrick is also available, in which he shares his views on where the financial markets will be five years from now.