Subcommittee on Securities

Opening Statements of Committee Members

Opening Statement of Senator Jim Bunning (R-KY)

Hearing on Competition and Transparency in
the Financial Marketplace of the Future
10:00 a.m., Wednesday, April 26, 2000 - Dirksen 538

Mr. Chairman, I would like to thank our witnesses who have come before the subcommittee to testify today.

As I have stated in previous hearings, the safety and soundness of our markets, which make them the envy of the world, must not be compromised. Investors, both large and small, must be protected.

I am very interested to hear how all of our witnesses think the markets should be shaped in this new century. But I am very interested on how our witnesses believe we can maintain the safety and soundness of the markets as they continue to adapt to the new economy.

I would like to know how concerned our witnesses are with issues that have come up in previous hearings.

Issues such as market fragmentation and the central limit order book or "clob".

I would also like to hear any suggestions our witnesses have for the committee on how we can assure that our markets continue to be the envy of the world.

I commend the chairman for holding these important hearings.

And I look forward to hearing from the witnesses on how they believe the markets of the new millennium can and should be structured.

Thank you, Mr. Chairman.