Securities and Exchange Commission Historical Society

Regulation and Market Structure from ATS to NMS

Discussion between moderator Dr. Ken Durr and 3 former directors of SEC's Division of Trading and Markets:

  • Richard G. Ketchum, division director from 1984 - 1990
  • Dr. Richard R. Lindsey, division director from 1995 - 1998
  • Commissioner Annette Nazareth, division director from 1999 - 2005

The program will be part of the Market Structure Gallery, opening in December. The panel will examine the reshaping of the equities markets from the mid-1990s to mid-2000s, from Reg ATS (Alternative Trading System) through Reg NMS (National Market System), distinguishing, as best they can, the role of regulation, market innovation, and chance, in driving these changes.

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