Fidelity: Vincent G. Loporchio

Vincent G. Loporchio: The venture under consideration would aim to address todays market structure, and provide higher levels of transparency, liquidity and control for the benefit of all fund shareholders, Vincent G. Loporchio, a senior vice president at Fidelity, wrote in an e-mail today. However, it is premature to discuss details at this time, according to Bloomberg. The central characters in Lewiss book formed IEX Group Inc., a dark pool that aims to neutralize advantages that high-frequency traders purportedly have when they buy and sell shares with investors big and small. Dissatisfaction with the status quo prompted the Investment Company Institute , the trade group for money managers with $17 trillion in assets, to organize a series of meetings last year to give money managers, broker-dealers, exchanges and market regulators a forum to discuss their concerns, News reported in December. Stepping Forward Fidelity Investments , the second-largest mutual fund company, is exploring the creation of a U.S. stock trading venue along with other investors to address perceived flaws in the $23 trillion U.S. equity market. U.S. stock trading is spread across more than 50 exchanges, electronic venues known as dark pools, and internal platforms at broker-dealers. The complexity this fragmentation causes was highlighted in Michael Lewis s latest book, Flash Boys, which has sparked more than a week of debate over whether investors are treated fairly in the worlds largest securities market. (news.financializer.com). As reported in the news.