This podcast was recorded on 06/09/26TD Cowen financial policy analyst Jaret Seiberg hosts TD Cowen's Two Cents Podcast, which this month features a deep dive with TD Cowen market structure expert Reid Noch into the rollout of perpetual futures and into the push for the SEC to eliminate the National Best Bid & Offer rule. We also get a market update from TD Cowen specialty salesperson Scott Smith.