Podcast
Boxes and Lines
Hosted by Ronan Ryan, John Ramsay · EN
In today's equity markets, the devil’s in the details. This is a podcast for traders, asset managers, and anyone who wants to understand the machinations, politics, and incentive structures underpinning our shared markets.
With irreverence and insight, IEX’s Ronan Ryan and John “JR” Ramsay hold court on market structure with Wall Street’s most savvy market practitioners, sharing their insiders’ view on how Wall Street really works. You'll never trade the same way again.
14episodes
Episodes
Newest firstAll episodes
From the Navy to the NFL to Wall Street with Phil McConkey
2w ago00:33:37Tap to summarizeRonan's boyhood dreams come true when New York Giant Phil McConkey, who was part of the team's 1986 championship win, stops by Boxes and Lines. Phil entered the financial services world after retiring from the NFL in 1989, later joining Academy Securities where he is now vice chairman. Academy Securities is a disabled veteran-owned and operated investment bank, and nearly half of its employees are military veterans. This includes Phil, who served as a Navy officer and helicopter pilot before joining the Giants at the age of 27. Phil joins Ronan and JR for a wide-ranging conversation about the connections between football and finance, leadership and what it means to fail and get back up - even when you still feel like "the skinny kid from Buffalo."
Transcribe →Retail Nation - Boxes and Lines Lite
Apr 1600:18:20Tap to summarize“Retail investor” used to mean one thing: long-term and passive. Not anymore. In this episode of Boxes and Lines, Ronan and JR unpack how retail trading has grown into a wide spectrum: from traditional hands-off 401(k) investors to 24/7 app-driven traders navigating options, predictions markets, and beyond. Plus: JR goes full “concerned grandfather.” Hit play.
Transcribe →That's Odd! -- Boxes and Lines Lite
Mar 2600:12:10Tap to summarizeWhat is the “best price” and who actually gets to see it? Ronan and JR are talking odd lots (trades smaller than 100 shares) and why they now make up the majority of transactions. Regulatory changes mean that odd lot quotes will be used to compute the NBBO. It’s a deceptively small topic with implications for market transparency and execution quality. Plus: Boston accents, unwanted socks, and Ronan asking at least one “smaht” question.
Transcribe →TD Securities' Reid Noch On What Prediction Markets, Tokenization, and 24/7 Trading Mean for Market Structure
Feb 1800:31:46Tap to summarizeRonan Ryan and John Ramsey are joined by Reid Noch, Vice President of U.S. Equity Market Structure at TD Securities, for a wide-ranging conversation on three of the most talked-about (and most misunderstood) topics right now. Reid walks through how prediction markets are evolving beyond sports betting, why tokenization is as much a regulatory story as a technology one, and how changes in settlement, liquidity, and market hours could reshape participation across retail and institutional trading.
Transcribe →What the Market Knows Before We Do: Dave Nadig on 2026
Jan 2800:34:48Tap to summarizeETF.com's Dave Nadig is back on Boxes and Lines for our annual check-in on what's going to actually matters in markets for the year ahead, even if we never quite get to a formal list of “predictions.” Instead, Ronan and JR talk with Dave about what the last year revealed: record ETF flows and launches, what feels like a wild-west phase of financial innovation, rising speculation, and the blurring line between active and passive investing. They also explore tokenization, regulation, and why ETF plumbing may be sturdier than many critics assume. Social posts:
Transcribe →The Better Halves of Boxes and Lines: A Holiday Special!
Dec 2200:33:31Tap to summarizeIn this very special holiday edition of Boxes and Lines, Ronan and JR once again hand over the mics to the people who know them best (and roast them best), their spouses. Back by popular demand, Kara Ryan and Nick Buzard join the show for a special holiday edition of Boxes and Lines' spouses interviews. This episode features Nick’s incredible recovery after quintuple bypass surgery, the Ryans’ big Antarctica adventure, UFO sightings, ducks, awful gift-giving, in-law stories, and a hopeful toast to 2026. Settle in, grab a drink, and celebrate the close of 2025 with the Boxes and Lines family.
Transcribe →Boxes and Lines Light: The 2025 Year-End Recap
Dec 1200:20:38Tap to summarizeFrom the industry’s sprint toward extended hours to retail’s continued dominance to the ongoing debate around tokenization, Ronan and JR are breaking it all down. Stick around to the end for a beautiful "tribute" to their friendship this year.
Transcribe →Breaking the Rules with the Motley Fool's David Gardner
Oct 200:49:52Tap to summarizeRonan and JR sit down with David Gardner — co-founder of investor education juggernaut The Motley Fool, host of podcast Rule Breaker Investing, and author of a new book by the same title, Rule Breaker Investing: How to Pick the Best Stocks of the Future and Build Lasting Wealth. From getting booed on The View for making a dud stock pick (that later went 30x). to breaking the mold of buttoned-up Wall Street, David shares why optimism and long-term thinking can go far.
Transcribe →Our 2025 Summer Interns Take the Mic
Aug 2000:52:23Tap to summarizeIn this special episode of Boxes and Lines, Ronan and JR sit down with members of IEX’s 2025 summer intern class, mostly incoming seniors in engineering, marketing, finance, and cybersecurity, for a conversation that spans Gen Z in the workplace, what they’ve learned at IEX, and their hopes (and hot takes) on the future of work, tech, and life. Two intern panels, one insightful summer, and at least one spreadsheet created in 5th grade. The kids are alright.
Transcribe →Bingo! With T. Rowe Price’s Mett Kinak
Aug 600:40:32Tap to summarizeOn the latest episode of Boxes and Lines, Ronan and JR welcome back Mett Kinak, Head of Global Trading at T. Rowe Price, for some real talk about market fragmentation, private rooms, and more. Mett also dispels his biggest pet peeve market structure myths, shares his skepticism about tokenizing equities, and pitches two new financial holidays—we'll raise a Bloody Mary to that.
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