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Financial crises becoming more recurring, says NYSE president

08-17-2011 11:15 BJT

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The president of the New York Stock Exchange Duncan Niederauer says financial crises will be more recurring and that this new reality requires changes to the regulation of markets. Niederauer made the statement at a conference about emerging economies in Sao Paulo, Brazil.

Duncan Niederauer, NYSE president said, "Because the nature of innovation and the pace of innovation is faster and the markets are more interconnected now, I think we just have to be ready to manage in a world where these crises come up more frequently than from every eight to ten years and my prediction would be that we will have an issue like this every three years to five years and not every seven to ten years. We will learn together how the markets will handle it, but it has implications for how we run our businesses and how we invest in businesses and how the regulators oversee the markets; that is all I was saying."

Editor:Zou Xian |Source: CNTV.CN

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