The regulatory aspect is the hardest part of operating a stock exchange.
Ronan's favorite vacation was a free trip to Hawaii after September 11th.
John enjoys woodworking classes and practicing in his backyard.
Ronan recommends Emily in the Village for great burgers and beer.
Lowering the access recapture fee would promote more competition.
Ronan and John have different dream guests for their own podcasts (Elvis and Bono, respectively).
Deep dives
Operating a Stock Exchange
The hardest part about operating a stock exchange is the regulatory aspect, which can be restrictive and limit flexibility.
Favorite Restaurant
For Ronan, Hudson Clearwater in the West Village is a favorite restaurant. John enjoys La Mandina in New Jersey.
Best Bingeable TV Show
Ronan binged Game of Thrones during the pandemic, while John enjoyed Broadchurch and Mayor of Easttown.
Best Vacation
Ronan's favorite vacation was a free trip to Hawaii shortly after September 11th. John's standout vacation was a trip to Russia in 1998, experiencing Moscow and St. Petersburg.
Surprising Hobbies
Ronan enjoys fishing and owns a small fishing boat. John takes woodworking classes and spends time practicing woodworking in his backyard.
Favorite Burger and Beer in NYC
Ronan recommends Emily in the Village for great burgers and beer. John doesn't drink beer, but shares the love for Emily's burgers.
If You Could Change Market Structure
Ronan would lower the access recapture fee to promote more competition. John believes regulatory changes to incentivize best execution routing and rationalize exchange pricing would be beneficial.
Podcast Series on Something Different
Ronan would host a Joe Rogan-style podcast, engaging with a wide range of interesting people. John would focus on AI and technology's impact on society, discussing management of the changes and risks.
Wall Street Culture Change
Ronan notes that technology has become more central in Wall Street culture over the past 20 years. John mentions the rise of competition and a focus on business relationships.
Admiration for Each Other
Ronan admires John's humility, comedic disposition, and intelligence. John admires Ronan's respectfulness, courtesy towards others, and mentoring abilities.
Elvis or Bono on the Podcast
Ronan would choose Elvis Presley because of his cultural impact and fascinating life. John would pick Bono to discuss his sustained relevance and philanthropic efforts.
Will Ronan Cut His Hair
Ronan has no plans to cut his hair.
Most Challenging Part of Operating an Exchange
Ronan and John both agree that the most challenging part is the strict regulation that limits flexibility.
Hobbies That Might Surprise People
Ronan enjoys fishing, while John has taken an interest in gardening and loves tending to his plants.
Favorite Resorts
Ronan's favorite resort is Hudson Clearwater in the West Village. John enjoys La Mandina in New Jersey.
Best Burger and Beer in NYC
Ronan recommends Emily in the Village for great burgers and beer. John doesn't drink beer, but loves their burgers.
Best Bingeable TV Show
Ronan binged Game of Thrones during the pandemic, while John enjoyed Broadchurch and Mayor of Easttown.
Favorite Vacation
Ronan's favorite vacation was a free trip to Hawaii shortly after September 11th. John's standout vacation was a trip to Russia in 1998, experiencing Moscow and St. Petersburg.
Surprising Hobbies
Ronan enjoys fishing and owns a small fishing boat. John takes woodworking classes and spends time practicing woodworking in his backyard.
Favorite WI Neck? in NYC
Ronan recommends Emily in the Village for great burgers and beer. John does not typically drink beer, but enjoys their burgers.
Changing Market Structure
Ronan would lower the access recapture fee to promote more competition. John believes regulatory changes to incentivize best execution routing and rationalize exchange pricing would be beneficial.
Podcast Series on Something Different
Ronan would host a Joe Rogan-style podcast, engaging with a wide range of interesting people. John would focus on AI and technology's impact on society, discussing management of the changes and risks.
Culture Change on Wall Street
Ronan notes that technology has become more central in Wall Street culture over the past 20 years. John mentions the rise of competition and a focus on business relationships.
Admiration for Each Other
Ronan admires John's humility, comedic disposition, and intelligence. John admires Ronan's respectfulness, courtesy towards others, and mentoring abilities.
Elvis or Bono on the Podcast
Ronan would choose Elvis Presley because of his cultural impact and fascinating life. John would pick Bono to discuss his sustained relevance and philanthropic efforts.
Will Ronan Cut His Hair
Ronan has no plans to cut his hair.
Most Challenging Part of Operating an Exchange
Ronan and John both agree that the most challenging part is the strict regulation that limits flexibility.
It’s the debut of “Dear Boxes and Lines,” our listener mailbag series in which Ronan and JR are answering listeners’ most pressing questions. What would JR and Ronan change about market structure if they could wave their magic wands? What’s the hardest thing about operating a stock exchange? Who are their dream guests? (Elvis, we’ll figure out how to get your invite sent to the Great Graceland in the Sky). Hit play and get to know Ronan and JR outside the boxes and lines. Recorded July 12, 2023.
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