Jamie Selway, head of the U.S. Securities and Exchange Commission’s Division of Trading and Markets, said financial markets are changing rapidly. According to Odaily, trading is moving toward continuous 24-hour operation, while tokenized securities, perpetual contracts and other new investment tools are entering the market. Central clearing is set to be implemented in the U.S. Treasury market, and reforms to core mechanisms of the national market system are under discussion. Retail investors and passive investment managers also have a greater influence on markets than historically typical.

These changes are creating research opportunities, but as data becomes more widely available, the main research challenge is shifting from accessing differentiated data to processing growing volumes of information. Researchers are increasingly turning to superintelligence-driven tools to find answers. The SEC will promote better use of superintelligence and strengthen cooperation with academia. Recently, the Division of Economic and Risk Analysis (DERA) relaunched its Distinguished Visiting Scholars Program.