This week, we talk to Lynn Martin, president of the NYSE, which is part of the Intercontinental Exchange. The NYSE is the world’s largest stock exchange, with 2,400 listed companies and a combined market cap of ~$36 trillion. He started his career in Global Services at IBM.
We discuss the IPO process and how companies go public, primarily to raise capital and create liquidity. We also discuss how the NYSE is behind innovations like SPACs and direct listings as alternative ways for companies to go public.
He explained how he expanded the system’s capabilities and increased the speed of message response and execution. By December 2021, signs of volatility were growing, and the NYSE was able to handle a massive flow of orders and messages — buying and selling half a trillion messages per day with 30 microsecond responses.
Here is a list of his favorite books; A transcript of our conversation is available here next week.
You can stream and download our entire conversation with podcast extras on iTunes, Spotify, Stitcher, Google and Acast. All our previous podcasts on your favorite podcast host can be found here.
Be sure to check out our Masters in Business next week with Kristen Bitterly Michel, Head of North America Investments at Citi Global Wealth. She is on all “Most Powerful Women in Economics” lists, including the American Banker, Crane’s Rising Stars in Banking & Finance 2020. Citi Global Wealth manages more than $800 billion in client assets, and nearly half of that business is in North America.