从他的观点来看，基准化在实际操作上并不适合那些在场外交易的证券，尤其是在那些价格在交易中是唯一决定因素的简单市场中。
In his view, benchmarking is not practical for securities traded off-exchange, especially in thin markets where price is only one factor in a deal.
场外交易者们愿意互相直接交易，他们的产品经常因为过于特别而无法适用于普通证券交易。
OTC traders like to deal directly with each other, and their products are often too specialised to fit on an exchange.
这其中也包括了对最佳执行规定的实行的担忧。最佳执行规定是针对象在场外交易的公司债券或者特别设计的衍生工具类证券，而不是股票。
These include worries over the application of best-execution rules to securities other than shares, such as corporate bonds or specialised derivatives, that are traded off-exchange.
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