Nasdaq Testifies on U.S. Equity Market Structure

Thomas Wittman Nasdaq Testifies on U.S. Equity Market Structure

Nasdaq EVP Thomas Wittman testifies before a House Financial Services subcommittee to discuss ways to improve U.S. market structure.

On June 27, Nasdaq Executive Vice President and Global Head of Equities Thomas Wittman testified before the U.S. House of Representatives Financial Services Committee’s Subcommittee on Capital Markets, Securities, and Investment. His testimony included topics proposed in Nasdaq’s recent blueprint initiative to enhance the public markets and revitalize the pathway for IPOs.

In Wittman’s testimony, he described how Congress can enhance the experience in the marketplace and restore the attractiveness of the capital markets if the policy debate centers on the following topics:

  1. Revoking unlisted trading privileges (UTP) for small and medium size company shares to allow more concentration of the liquidity in the market – giving the company some choice over the market structure in which they would be subjected.
  2. Adopt Intelligent Tick sizes that will allow companies to trade in the most efficient and liquid manner.
  3. Approach the rebate discussion with the liquidity needs of the smallest issuers in mind and approach the other end of the debate with data driven facts.
  4. Protect issuers and investors from increasing fragmentation in the market by requiring fair and equal access on all trading platforms.

Click here to read the full testimony >

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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