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June 2025


Featured Article

If I Had a Dollar…and an Hour

By Jim Toes, President & CEO, STA


Resources like time and money, the twin currencies of life, are finite, so every choice—whether spending a single dollar or an hour of your day—forces individuals to prioritize and weigh what truly matters against what doesn’t.


For institutions it’s about deciding where to direct budget and staff hours to maximize operational performance and innovation. On June 12, 2025 the Securities and Exchange Commission (SEC) under its new Chairman announced plans to withdraw 14 proposed rules*, all issued between March 2022 and November 2023.

Registration is now open for STA's 92nd Annual Market Structure Conference! Featuring a Keynote Address from SEC Chairman Paul Atkins, join us October 15-17 at the JW Marriott Washington DC as we explore the forces reshaping, and redefining, our industry.


Click the link below to visit our new conference website! Here, you can register for the conference and book your hotel room, find the latest updates on the conference Agenda and Speakers, see our list of Sponsors, and more!

STA Women in Finance

Women in Finance Mentorship Program

Thank you to all who participated in our pilot STA Women in Finance Mentorship Program – an outstanding day of professional development for the industry's next generation.


Thank you to Liquidnet and Virtu Financial for sponsoring the event, as well as the hard work from our WIF Chair and Vice Chair Christine Lee and Laura Delaney.

Taking Stock

To the 2025 Intern Class: It's An Art, Not a Science

By Jim Toes, President & CEO, STA


Now that summer is upon us, we'd like to wish a warm welcome to all of the interns who are kickstarting their careers over the next few months. As members of a fast-paced industry keen on constant evolution and modernity, referencing the "apprenticeship model" might seem odd. However, this model continues to serve as a cornerstone for nurturing talent and passing on crucial skills. This approach ensures that knowledge, techniques, and insights developed over years of experience are not only preserved, but actively transferred to the next generation.

STA Open Call

Autism Science Foundation: 2025 STA Charity of Choice

The latest CDC data shows that 1 in 31 American children are diagnosed with autism. The Autism Science Foundation (ASF) is a nonprofit organization dedicated to supporting people with autism and their families by funding scientific research to understand the causes of autism and to develop better treatments. Alison Singer, Founder and President of the Autism Science Foundation, discusses advancements in treating children diagnosed with Autism Spectrum Disorder and explains the importance of early detection and personalized treatment. Watch here

Upcoming Affiliate Events


July 10: Dallas STA Topgolf Event

Topgolf

Dallas, TX

Details here


July 16-17: MSDA 2025 Summer Conference

The Hotel Landing

Wayzata, MN

Details here


July 22: STANY Emerging Leaders Summer Bash

TSquared Social 

New York, NY

Details here


August 7-8: STA Wisconsin Annual Conference & Golf Outing

Milwaukee Athletic Club and The Bog

Milwaukee, WI

Details here

STA in the News


Traders Magazine: SEC Rule-Proposal Withdrawal Signals Regulatory Reset

In a decisive shift away from the expansive regulatory agenda of former Chair Gary Gensler, the U.S. Securities and Exchange Commission (SEC) announced on June 12 its withdrawal of 14 proposed rulemakings. According to Jim Toes, President & CEO, STA, the SEC has freed up agency resources for more targeted, practical regulatory efforts. “It also has restored an environment that historically provided for meaningful engagement with the financial industry, fostering dialogue over dictation,” he wrote in a blog. Read More


John Lothian News: Crypto’s Equity Market Makeover: STA’s Jim Toes on Trading, Delistings, and the ‘Women in Finance’ Push

At this year’s Options Industry Conference, Jim Toes, President and CEO of the Security Traders Association (STA), surveyed the shifting landscape of trading floors and regulatory halls with a blend of candor and caution. “There’s been an influence of the crypto market structure on the equity markets,” Toes told John Lothian News. “If we go back to January 2021, when we had those GameStop events, what we had was a large number of investors, mostly crypto traders, trading equities for the first time and getting a very different experience.” Read More

Thank You, 2025 Sponsors!

Platinum

Cboe Global Markets | Citadel Securities | Clearpool | ION | MEMX | NYSE | PureStream | Robinhood | StoneX Financial


Diamond

BIDS Trading | Blue Ocean Technologies | Clear Street | Grayscale |

Green Impact Exchange | GTS Securities | IntelligentCross | IPC |

Jane Street | KeyBanc Capital Markets | Liquidnet | MIAX Exchange Group | Nasdaq | Quod Financial | State Street Global Advisors | TMX Group | UBS |

Virtu Financial | Webull Financial | XTX Markets


Gold

ABN AMRO Clearing | Baird | BOX Options | Broadridge | Canadian STA | CAPIS | Dallas STA | DTCC | FactSet LiquidityBook | FlexTrade |

Flow Traders | Forefront Communications | HPR | Hudson River Trading |

IEX Exchange | IMC | Instinet | Invesco | LeveL Markets | LSEG | MCAP |

OCC | Oppenheimer & Co. | Optiver | Pico | S3 | Simplex Trading |

STA Chicago | STA New York | Susquehanna International Group | TradeStation | Two Sigma Securities | Wells Fargo


Silver

24 Exchange | Apex Fintech Solutions | BMLL Technologies |

Canaccord Genuity Group | Canadian Securities Exchange | Chicago Trading Company | Coalition Greenwich (CRISIL) | DASH Financial Technologies | DriveWealth | FIF | Futu Clearing | Georgia STA | Group One Trading |

Guzman & Company | ITAP (STA Philadelphia) | MSDA (Minnesota STA) |

Old Mission Markets | Piper Sandler & Co. | Rosenblatt Securities |

Siebert Willams Shank & Co. | SS&C | STA Connecticut | STA St. Louis |

STA Wisconsin | TD Securities | TRAFiX | Walleye Capital | WEX |

Williams & Jensen

Sponsor STA in 2025!


One of the many year-long benefits of STA sponsorship* includes representation on select STA Advisory Committees (Listed Options Committee, ETF Committee, Market Structure Analyst Committee) for the entire calendar year.


*Platinum, Diamond, and Gold levels.

Follow STA

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Sponsorship Inquiries

Dawn Combs

Security Traders Association

708-870-4969

dawn@securitytraders.org

Media Inquiries

Sam Belden

Forefront Communications

203-889-6209

sbelden@forefrontcomms.com