STANY Emerging Leaders Symposium

Market Structure Showdown: Rule 611, Tokenization & the Future of Trading

Thursday, November 19, 2026
The Penn Club of New York
5:30–8:30 p.m.

Two of the most consequential issues facing today's securities markets are up for debate—and we're bringing together industry experts with differing perspectives to tackle them head-on.

Join STANY's Emerging Leaders for an engaging, fast-paced discussion exploring the potential repeal of SEC Rule 611 (the Order Protection Rule) and the growing movement toward tokenization of securities.

Rather than a traditional panel discussion, this year's symposium will feature a lively debate format, with two-person teams challenging assumptions, examining competing viewpoints, and exploring what these developments could mean for the future of trading and market structure.

On the Debate Floor

Rule 611: Time for a Repeal?

Is the Order Protection Rule still serving its intended purpose, or has market structure evolved beyond the need for its protections? Our debaters will explore the potential benefits, risks, and unintended consequences of eliminating Rule 611.

Tokenization: Transformation or Hype?

Could tokenized securities fundamentally reshape how markets operate, or are the promised benefits overstated? The discussion will examine the opportunities, practical challenges, and implications for traditional market participants.

Featured Participants

• Douglas Aragones, Head of BD Electronic Trading Sales, Citadel Securities
  
  
• Mehmet Kinak, Global Head of Equity Trading, T. Rowe Price
  
  

• Andrew Oppenheimer, Head of US Equities, Nasdaq

• Dave Weisberger

Event Schedule

5:30–6:00 p.m. | Registration and Networking Reception
6:00–7:00 p.m. | Market Structure Debate
7:00–8:30 p.m. | Cocktails, Refreshments & Networking

Join the Conversation

Designed for STANY's Emerging Leaders and open to securities industry professionals at all career stages, this event offers an opportunity to hear competing perspectives on issues shaping the future of our markets, ask questions, and connect with colleagues across the industry.

Come for the debate. Stay for the conversation.