At least, that's been the traditional view of the securities industry class system. But now comes Lee Korins, president and CEO of the U.S.-based Security Traders Association, to raise the profile and the status of traders everywhere.

Korins, 67, feels the time is ripe for U.K. and U.S. traders to unite: At the STA's inaugural London conference in May, he announced plans to establish a British affiliate. The securities industry on both sides of the Atlantic is facing similar challenges, including heavy trading volumes, compressed settlement times and the growth of ECNs, notes Korins, who is due to retire next February.

As a demonstration of his association's lobbying power, Korins boasts that the STA inspired changes to the Nasdaq market's new SuperMontage trading system. ,Traders need a voice so they can help shape this industry,, he contends.