John Ramsay, Columnist

This Is No Way to Run the U.S. Stock Market

Private interests are corrupting its public purpose.

March 20, 2018 at 10:00 AM UTC

John Ramsay is the chief market policy officer of IEX Group Inc. He previously led the Division of Trading and Markets at the U.S. Securities and Exchange Commission.

Data matter.
Photographer: Spencer Platt/Getty Images

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When my employer, IEX Group Inc., received its stock exchange license two years ago, I gained a seat on the committees that oversee much of the critical infrastructure of the U.S. equity markets. From that insider’s perspective, I’ve come to a troubling conclusion: Private interests are corrupting the markets’ public purpose.

Most of my fellow committee members, who are good people, will not appreciate these comments. But I think they need to be said.