Regulate U.S. Markets Like the Nuclear Industry

With the uncertainty of the U.S. presidential election behind us, it’s time for regulators of financial markets to get serious about preventing market malfunctions -- from out-of-control algorithms to initial public offerings marred by technology breakdowns.

To some wary investors, these incidents show that the markets are unstable, unreliable and tilted against them. Given the extraordinary complexity of today’s lightning-fast equities markets and the speed of technological change, there is no single solution. Yet a logical place to start is a fresh approach to the regulation of U.S. stock exchanges.