Market Structure Debate Principles: White Paper…

Under the leadership of senior fellow Bradley J. Bondi, the Center for Financial Stability (CFS) organized a nonpartisan working group with a wide range of market participants, academics, lawyers, and public officials to focus on the structure and operations of the U.S. equities markets.

CFS hosted discussions in New York and Washington, D.C., synthesized the comments from those events, and circulated a draft to the working group and other market participants for additional feedback.

After additional review and consideration, key principles include:

  • Avoid Rhetoric and Generalizations,
  • Craft Clear, Transparent, and Predictable Regulations,
  • Structure Markets to Serve a Diverse Clientele,
  • Use a Careful Regulatory Process,
  • Develop Cost-Effective – Yet Impactful – Regulation, and
  • Deepen Diversity in the Decision-Making Process

The CFS Working Paper offers guidance, rather than specific policy recommendations, to the SEC and other policymakers considering changes to the equity market structure.

To view the full paper: