At one point in the 2013 comedy “The Wolf of Wall Street,” Matthew McConaughey’s character Mark Hanna – a slick, coke-snorting stockbroker – tells Leonardo DiCaprio’s character, “Nobody – I don’t care if you’re Warren Buffett or Jimmy Buffett – nobody knows if the stock is going to go up, down, sideways or in circles.” While many in the financial services world might disagree, we can probably all agree that this accurately describes the current crypto market. Just replace “the stock” in that sentence with “bitcoin.”
In 2016, London grabbed global attention by electing Sadiq Khan as mayor, the first British-Pakistani to take the reins of the most powerful financial hub in the world. Yesterday, Chicago broke barriers as well, electing Lori Lightfoot, an African-American, openly gay woman, to take the top job for another global financial hub.
In today’s FCM world, it’s tough to be different.
The job is still pretty straightforward – help clients execute trades and manage the post-trade process. There are more steps and pieces that come with that than most participants know or want to know. Most just want to get a trade done and booked and move along to the next one.