

Boxes and Lines
Ronan Ryan, John Ramsay
In today's equity markets, the devil’s in the details. This is a podcast for traders, asset managers, and anyone who wants to understand the machinations, politics, and incentive structures underpinning our shared markets.
With irreverence and insight, IEX’s Ronan Ryan and John “JR” Ramsay hold court on market structure with Wall Street’s most savvy market practitioners, sharing their insiders’ view on how Wall Street really works. You'll never trade the same way again.
With irreverence and insight, IEX’s Ronan Ryan and John “JR” Ramsay hold court on market structure with Wall Street’s most savvy market practitioners, sharing their insiders’ view on how Wall Street really works. You'll never trade the same way again.
Episodes
Mentioned books

Aug 30, 2023 • 37min
The Kids Are Alright: A Conversation with IEX’s Summer 2023 Interns
JR and Ronan are joined by Giancarlo, Annabelle, and Dennis - three of IEX’s 2023 summer interns - for this special episode about the aspirations of America’s upcoming workforce. Though Gen Z had to navigate remote schooling during Covid, grappling with global warming, and witnessing seemingly constant political and economic shifts, this episode reveals that what’s on their mind might resonate more closely with previous generations than one might think. Recorded August 8th, 2023.

Aug 8, 2023 • 45min
Investing in Gender Diversity with Katherine Jollon Colsher of Girls Who Invest
What needs to change about the finance industry in order to close the gender gap? What will the next generation of Wall Street leaders look like? How will Gen Zers shape workplace culture - and the finance industry? On the latest episode of Boxes and Lines, Ronan and JR are joined by Katherine Jollon Colsher, President and CEO of Girls Who Invest, to discuss the longstanding gender gap within the finance industry and how Girls Who Invest is providing young women access to resources and education programs in asset management. They also discuss the necessity of bringing diverse perspectives into the workplace, the importance of management training, and what intersectionality really means. Recorded July 19, 2023.

Jul 25, 2023 • 40min
“Dear Boxes and Lines” – Ronan and JR Answer Listener Mailbag Questions
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.

Jul 5, 2023 • 33min
Going Green on Wall Street with Duncan Higgins of Sustainable Trading
Duncan Higgins, founder of Sustainable Trading, joins Ronan and JR to discuss what it means to “trade sustainably.” They also touch on the environmental impact of data centers, the creation and implementation of best practices for firms (should employees be powering computers with stationary bikes?), and the global effects of changes in ESG legislation. Recorded June 21, 2023.

Jun 20, 2023 • 39min
From the Archives: Measuring the 15-Microsecond Dash with Professor Eric “Batch” Budish
We’re dipping into our archives for this episode of Boxes and Lines and revisiting our episode with Eric “Batch” Budish (nickname bestowed by us), the Paul G. McDermott Professor of Economics and Entrepreneurship at the University of Chicago Booth School of Business, whose groundbreaking paper, “The High Frequency Trading Arms Race: Frequent Batch Auctions as a Market Design Response” has helped shape exchange design proposals in stock markets and futures markets. Featuring an updated intro from Ronan and JR. Original episode recorded July 28, 2021.

May 24, 2023 • 40min
Market Structure Reform Unwrapped: What's Inside the Regulatory Box?
Ronan and JR are joined by Eric Stockland and Joe Wald of BMO Capital Markets on our latest episode to discuss the recent proposed market reforms by the SEC. Listen as they navigate the intricate web of regulations and the potential impact these reforms could have on the stock market, investors and the future of financial markets. Recorded April 5, 2023.

May 10, 2023 • 34min
Commercial REITs, Corporate Finance, & Craigslist with Dana Petitto of Brookfield
On the newest episode of Boxes and Lines, Ronan and JR chat with Dana Petitto, Managing Director of Brookfield Real Estate Group and CFO of Brookfield REIT. Dana discusses how she was able to strategically envision and implement growth in a functional way as her company’s portfolio has grown significantly during her 18-year tenure. The gang also talks about growing throughout the COVID-19 pandemic and how to navigate working from home while fostering an in-office culture. Dana describes her various roles in organizations that support women and mothers and the importance of providing support and networking opportunities for women in finance. Recorded March 28, 2023.

Apr 26, 2023 • 36min
Boxes + Lines LIVE from the Dispatch Studio!
Allow us to introduce Dispatch, a digital commerce platform powered by Web3, and one of IEX’s portfolio of businesses. In this live interview at the Dispatch Studio pop-up (which took place during this year’s #NFTNYC), Ronan and JR talk to Byron Sorrells, CEO and Co-Founder of Dispatch, and Eugene Hu, Head of Global Partnerships at Ledger, about the fascinating intersection between blockchain “magic” and ecommerce, the current state of Web3 (and what it is, anyway), and the real-world uses cases it currently enables. Recorded April 12, 2023.

Apr 11, 2023 • 41min
Starting from Scratch with Armando Diaz of PureStream
Ronan and JR are joined by Armando Diaz, CEO of institutional trading platform PureStream. Seeing a need for platforms that could better scale and be more efficient, Armando built PureStream from the bottom up with the hopes of making a difference in the industry. The group discusses what exactly goes into launching a venue, the biggest pain points in the world of institutional trading today - plus what's most exciting about it. Recorded on March 9, 2023.

Mar 28, 2023 • 18min
Nailed It! with Rachel Apfel Glass Founder + CEO of Glosslab
Getting regular manicures is expensive and time consuming, inspiring Rachel Apfel Glass to found a subscription-based, waterless nail service in 2018 in New York City. Since then, ex-hedge funder Glass has grown her business to include various cities throughout the country. Listen as guest host and IEXer Jayme Abrahamsen returns to interview Rachel, discussing the genesis of her idea, what it’s been like as an entrepreneur and CEO in the space, and where Glosslab is headed in the future. Recorded March 1, 2023.