Technology is changing the role of traditional market intermediaries who connected buyers and sellers, and that's a good thing, Nasdaq OMX Group CEO Bob Greifeld said Thursday.
To be sure, there will always be market participants ready to trade a big cap stock like Apple, but Nasdaq concerns itself with lower activity stocks and how they're handled in the marketplace, Greifeld said.
"When you go down the market capitalization curve, and you have stocks that don't trade that often, then the role of the intermediary is fundamentally import," he said.
"That's where you have some disruption. You need somebody there because a willing buyer and a willing seller on a thinly traded stock doesn't happen to show up at the same time."