The SEC’s former head of trading and markets, John Ramsay, has gone from regulating big Wall Street banks to competing against them, since joining the dark pool featured in Michael Lewis’ book “Flash Boys.”
In fact, Ramsay has grown so critical of the stock exchanges he used to regulate that he recently likened US stock markets and their structure to the Death Star, according to Bloomberg’s Dave Michaels and
“The current market ecosystem is not sustainable, and significant changes are coming one way or another,” Ramsay, who is now chief market policy officer at IEX, reportedly said in a speech.
Last year, Michael Lewis’ “Flash Boys” raised concerns that stock markets are rigged in favour of big Wall Street banks.
IEX, the high-frequency trading platform that Ramsay now works for, uses sophisticated algorithms and powerful technology to analyse markets and trade securities at very high speeds. It was designed, according to Lewis, to counter those disadvantages and level the trading playing field for investors.
So we’re wondering if that makes Ramsay the Luke Skywalker of trading.