Boxes and Lines

In this episode of Boxes and Lines, Ronan and JR sit down with Rusa Goletiani, a chess champion turned FX trader at BlackRock. Rusa shares her incredible journey from learning chess as a young girl in Georgia (the country, not the state!) to fleeing her war-torn homeland with nothing but her beloved chess notebook in the early ‘90s. Hear how chess helped her escape and thrive, how it influenced he...

AI could change how businesses operate forever – but do executives truly understand how to harness its power and uncover patterns in their data? Former KX Managing Director Conor Twomey stops by to discuss how his new venture, AI1, will help businesses make the right AI investments to capitalize on the technology. Conor also covers the finer points of building an AI prompt, what’s really going on...

In this special episode of Boxes and Lines, we’re switching things up. Guest host Jayme Abrahamsen from IEX’s business development team takes over the mic to chat with Patrice Meagher, founder of MilkMate. Patrice shares the story behind MilkMate , a company dedicated to providing solutions for nursing mothers in the workplace. Tune in as Jayme and Patrice take a closer look at how industries like...

The proceeds from Norway’s oil and gas industry have reached $1.7 trillion – so how do its leaders manage that wealth to its citizens’ benefit? Emil Framnes, Global Head of Equity Trading and Transition at Norges Bank Investment Management, talks with Ronan and JR about how the fund invests that wealth across the more than 40 countries he and his team oversee. (Fun fact: The value of the fund per...

In this special, shorter “Boxes and Lines Lite” episode, Ronan and JR break down the ins and outs of penny stocks, also known as sub-dollar trading. From their speculative nature to the surprising number of these low-priced stocks trading on major exchanges, they explore why penny stocks are both risky and, at times, deceptive. With JR’s insider knowledge from his days at the SEC, they also touch...

JR and Ronan interview IEX interns Annie, Shay, Alex, and Rory from our class of Summer 2024 with a twist: the interns are also asking some questions. As the co-hosts get in the hot seat, we hear what kept Ronan and JR up at night early in their careers, as well as their advice for the interns as these budding pros build their career paths.

In this episode of Boxes and Lines, we’re joined by Patrick Young, trader, media pundit and author of late nineties fintech harbinger "Capital Market Revolution." Two decades after predicting the digitization of finance, Patrick reflects on how his forecasts have played out and what he got right, wrong, and how his lateral thinking has been both a blessing and a curse. Ronan and JR get his thought...

Note**: this episode was recorded before President Biden announced he wouldn’t be running for a second term ** We’ve got another predictions episode for you this season – this time with legendary economist Dr. Nouriel Roubini, who was given the warm and fuzzy nickname of 'Dr. Doom' by the media for his prescient prediction of the 2008 financial crisis. Dr. Roubini, a bestselling author and profess...

24/7 trading – it’s the topic JR and Ronan love to hate and, according to a recent wave of press this year covering Wall Street’s wariness to adopt it, they’re not alone. But does everyone need to get with the program? Many retail brokers, including Robinhood and Interactive Brokers, offer 24-hour trading on weekdays for US stocks, and start-up 24 Exchange, backed by Steve Cohen’s Point72 Ventures...

Boxes and Lines is back from a summer break with new episodes, kicking off with this special edition featuring two legendary Irish Olympic runners, Eamonn Coghlan and Gerry O'Reilly. Running has been on Ronan Ryan’s mind lately, as he’s gearing up for a charity 10K race in November for GOAL, a global humanitarian organization, as part of the Great Ethiopian Run. As the chair of GOAL USA’s Board of...

This time, it’s personal. JR and Ronan’s spouses, Nick Buzard and Kara Ryan, join the show to discuss their kids, pets, their experiences navigating work-from-home life during COVID, and their advice for all newlyweds at IEX (and those listening!). For the final segment, the couples put their knowledge of each other to the test in a lightning round of the ‘Newlywed Game’ where the rules get quickl...

In this episode of Boxes and Lines, Ronan and JR chat with Alex Kane, CEO of sports betting exchange Sporttrade. He breaks down how Sporttrade incorporates features similar to traditional elements of trading and stands out from traditional sportsbooks by offering lower costs and more control to users. He also discusses the challenges of expanding the company amid the patchwork of U.S. gambling law...

Join us for the 100th episode of "Boxes and Lines" as hosts Ronan Ryan and John Ramsay celebrate this milestone with IEX’s Chief Marketing and Communications Officer, Marija Zivanovic-Smith. In this special edition, we venture down memory lane with live reactions to memorable clips from the past five years. We’ve highlighted all the best moments, from early technical glitches to the time Ronan mis...

The “vanguard of Vanguard,” Gerry O’Reilly, stops by to chat with Ronan and JR to discuss the Vanguard Total Stock Market Index Fund ($1.6 trillion in AUM), his 30 years at the firm, and how the industry has evolved during his tenure. The three also touch on the proposed updates to Reg NMS by the SEC, AI, and cryptocurrency in a broad-ranging hot topics segment. Not to bury the lede, but Gerry als...

The man, the myth, the legend - market structure expert Larry Tabb joins Ronan and JR to talk shop about crypto, AI, and hot-button topics including access fees, tick increments, and the SEC's regulatory direction. They also discuss the challenges of moving to T+1 settlement and whether sub-dollar trading is a “scam.” It’s a must-listen episode for the true market structure (and carpentry) wonks o...

This week, Ronan and JR are joined by Ellen Correia Golay, a Treasury markets advisor at the New York Federal Reserve Bank and an expert in U.S. Treasury market structure and fixed income. Ellen dispels the gold heist myths of Die Hard 3, takes a closer look at all-to-all trading in Treasury markets, and discusses the SEC’s recent adoption of rules that could require principal trading firms to reg...

Ronan and JR welcome back Chris Ekimoff and Kurt Wolfe, co-hosts of the 'inSecurities' podcast, to talk shop about the latest in securities regulation. With Chris's forensic accounting expertise and Kurt's background in law and SEC enforcement, they discuss the SEC's cautious stance on predictive analysis, industry reactions, and the effects of what some call the SEC’s 'regulation by enforcement'...

Join us for a special episode of Boxes and Lines, featuring Neal Freyman and Toby Howell of the wildly popular newsletter, the Morning Brew. Listen as JR and Ronan learn how they’ve helped re-shape business news, making it digestible for millennials and Gen Z - or should we say, Zillennials - from its humble beginnings as a cheat-sheet at the University of Michigan to becoming a digital media powe...

Join Ronan and JR as they kick off 2024 with Dave Nadig, a “Financial Futurist” for ETF Trends and ETF Database, and an all-around expert in the ETF industry. In this episode, Dave shares his predictions for the year, discussing the election's impact on investments, the prospects of ESG and clean energy, the implications of SEC-approved Bitcoin ETFs, challenges in active ETFs, insights on Cathie W...

Shelley Eleby, Managing Director and Head of Marketing for Electronic Trading at BMO Capital Markets, joins Ronan and JR to talk strategy and the key to strong branding in an era of shrinking screen sizes and attention spans. An industry veteran, Eleby discusses her wariness of AI and the “shiny penny” effect it seems to be having across all aspects of business, including finance. Eleby and BMO’s...

Amy Magnotta brings her expert take on the state of equity markets to the pod as we approach 2024. The Co-Chief Investment Officer at Ategenos Capital sheds light on everything from the fed's stance on interest rates, alpha drivers and the promising outlook for Japan, and potential tailwinds from the U.S. Infrastructure Investment and Jobs Act. As 2024 looms as a “spicy” election year, Amy shares...

Ronan and JR are joined this week by Michael Seigne, a finance industry veteran with extensive experience in equity execution, and the founder of Candor Partners Limited. Listen as Michael breaks down the intricacies of corporate share buybacks and how these hotly debated practices influence shareholder value and corporate governance for public companies. Recorded November 16, 2023.

While you were still sleeping, the stock market was busy getting ready for the day. Ramon “Ray” Gonzalez, Head of Technology Operations for IEX Exchange, joins Ronan and JR to walk us through the checklist his team goes through every day – starting at 4 am – to get the market ready for smooth sailing. Plus, they delve into “bare metal” infrastructure, data centers, and the potential for exchanges...

Jim Toes, President and CEO of the Securities Traders Association and a leading voice in market structure, joins Ronan and JR on the pod this week. Jim gives the guys a sneak peek of what's on the docket for STA’s 90th Annual Market Structure Conference, and also discusses the rise of stablecoins and Bitcoin ETFs, his thoughts on the SEC's proposed market structure reforms, the implications of a 2...

Anna Kurzrok, managing director of market structure at Jefferies, joins Ronan and JR to dive into the nuts and bolts of U.S. equities market structure. They chat about what the SEC's market structure proposals will mean for the big institutional players and everyday traders, the trajectory of AI in trading, the fragmentation of trading venues, and what's going on with off-exchange trading. Recorde...