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an InvestmentWires' Publication
Tuesday, March 08, 2016|
Once Upon a Time, ETF Edition
The invention of the ETF was inspired by the SEC's response to the infamous rout called Black Monday.
The origin story, set from 1988 to 1993, features a big cast of characters, including: the late Nathan Most, then vice president of new product development at the American Stock Exchange (now part of the NYSE); Steven Bloom, then also on the Amex product development team alongside Most; Arthur Levitt, then chairman of the Amex; David Ruder, chairman of the SEC from 1987 to 1989; Vanguard founder Jack Bogle; Kathleen Moriarty, partner at Kaye Scholer who helped out Amex on the legal side; Howard Kramer, then a staffer in the SEC's division of market regulation; Peter Haynes, then at the Toronto Stock Exchange; James Ross from SSgA; and Gary Eisenreich, then a specialist at ETFs' first market maker, Spear Leeds & Kellogg.
Printed from: MFWire.com/story.asp?s=53604
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