This week, Robert Leonard talks with Kevin Kennedy about the impact of technology, fiscal and monetary policy, options trading and exchanges, cryptocurrency, and the rise of retail investors, on the growth of the stock market, and much more! Kevin began his career as an independent market maker in September 1987. From there, he became the President of his own trading firm and Vice President in the Goldman Sachs Equities division. Today, he is the Senior Vice President and Head of Product Management for North American Markets at Nasdaq. IN THIS EPISODE, YOU’LL LEARN: 00:00:00 - Intro 00:05:59 - Proprietary or Prop Training 00:07:01 - Differentiation of Brokers and Traders 00:07:48 - What a Market Maker is 00:10:58 - Managing trades and market making 00:17:45 - How technology has had an impact on the markets and the rise of retail investors 00:21:17 - Do we still have physical trading floors? 00:23:39 - How to study markets today and if there’s a fundamental shift that makes this time truly “different”  00:29:31 - Whether fiscal and monetary policy or retail investors’ access to capital markets has a bigger impact on capital markets 00:30:27 - If the current growth in options trading is sustainable 00:33:32 - Understanding Speculating vs True Investing 00:35:15 - The different options exchanges the Nasdaq has and why six exchanges are necessary 00:43:56 - Where the Nasdaq and the worlds of crypto and options collide  00:46:06 - Future of Capital Markets 00:47:52 - The future of capital markets and whether or not crypto will be part of it  00:49:57 - Lessons Kevin learned as a trader and what major mistakes he made ✔️ Subscribe to Millennial Investing podcast show: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM 🖊️ Access our free show notes and transcript here: https://www.theinvestorspodcast.com/millennial-investing/stock-exchanges-nasdaq/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ LISTEN 🎧 TO OTHER SHOWS FROM OUR NETWORK: ₿ If you're interested in Bitcoin, checkout our Bitcoin Fundamentals podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8wOLjjwNCM5B1qFdrtTdTZ 📚Dive into value investing and learn more about billionaires with our We Study Billionaires podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F9dDPFYGAHRbrWoToCe2uoU 🏘 Learn the ins and outs of real estate investing with our Real Estate 101 podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F8Yw_8xO2nk-RD7fhb3yktn 💸Get introduced to the world of investing with our Millennial Investing podcast show: https://youtube.com/playlist?list=PL_xlkwLDH1F_p00VYv3psJ8rhDAGOvR5W ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ FOLLOW US ON SOCIAL MEDIA📱: 💻 Facebook: https://www.facebook.com/groups/theinvestorspodcast/ 👔 Linkedin: https://www.linkedin.com/company/the-investor's-podcast/ 🐦Twitter: https://twitter.com/TIP_Network ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ 📥 Download Stig & Preston's 1-page checklist for finding great stock picks: https://www.theinvestorspodcast.com/form-youtube-checklist/ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ⏤ ❗DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.