Gurley explains Barry McCarthy discovered existing daily stock opening processes can enable direct listings.
“What Barry McCarthy unlocked and and discovered was that the very same processes that you use at the NYSE and the Nasdaq to open stocks each and every day can actually do the match that that that do a direct listing opening.”
Gurley distinguishes direct listings from Dutch auctions by noting systems already exist in markets for daily stock openings.
“But what's really remarkable and very different from the Dutch auction, these systems are already inside of our financial markets.”