Confidence, fairness and integrity are among the most important issues for stock market investors, William O’Brien, CEO of DirectEdge, told CNBC Tuesday.
DirectEdge, with two fully electronic exchange platforms, becomes the fourth largest US stock exchange Wednesday.
“Investor confidence is critically important,” said O’Brien. “It doesn’t really matter if we talk about circuit breakers or high-frequency trading. With unemployment at 12 percent, and we don’t have economic growth, investors are not going to be excited about the stock market."
The US jobless rate in June fell to 9.5 percent, from 9.7 percent in May.
“We need to get the economy moving again and to get capital formation going. And then, behind that, [we need to] work on improving the integrity of the market structure so they [investors] can have confidence that the game is fair and equitable for all,” said O'Brien.