NYSE president Stacey Cunningham says the stock market is not a casinoand exchange officials have not been asked to testify at the upcoming GameStop hearing

<p><img src="https://static2.businessinsider.com/image/602bba752edd0f001a8d5d63-2400/0eb4f310f7b8490e80589e1d54f56214.jpg" border="0" alt="Stacey Cunningham, First Female President of the NYSE" data-mce-source="Stock News Hub" data-mce-caption="Stacey Cunningham, First Female President of the NYSE" data-link="http://www.stocknewshub.com/business/stacey-cunningham-becomes-first-female-president-of-new-york-stock-exchange-1734.html"></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul class="summary-list"><li>The NYSE's president told Axios stock markets are not a casino, and they are highly regulated.</li><li>NYSE officials have not been called to testify at GameStop's House hearing, Stacey Cunningham said.</li><li>Rules on transparency around short positions held by hedge funds should be reviewed, she said.</li><li data-stringify-indent="0"><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest'utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener noreferrer" data-stringify-link="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell" data-sk="tooltip_parent"><strong data-stringify-type="bold">Sign</strong><strong data-stringify-type="bold">&nbsp;</strong><strong data-stringify-type="bold">up</strong><strong data-stringify-type="bold">&nbsp;here for our daily newsletter, 10 Things Before the Opening Bell</strong></a><strong data-stringify-type="bold">.</strong></li></ul><hr><p>NYSE president Stacey Cunningham told Axios in a <a href="https://www.axios.com/nyse-president-stock-markets-casino-gamestop-f66e29b1-e1a1-4960-90fb-b1d267de989a.html">recent interview</a> that investing in the stock market does not resemble gambling.&nbsp;</p><p>"The markets are not a casino," she told Axios' Dan Primack. "They are highly regulated and they're highly overseen. We are running a market that provides opportunities for investors to come in, invest in the companies they believe in, they believe that are gonna grow, and then share in that wealth creation."</p><p>Senator Elizabeth Warren last month <a href="https://www.businessinsider.com/gamestop-warren-aoc-slam-wall-street-market-like-a-casino-2021-1">slammed hedge funds and investors</a> who criticized traders driving up GameStop for treating the stock market like a casino.</p><p>Cunningham disagreed with the sentiment, and said that what makes America so great is that "dreamers and entrepreneurs" with an idea can grow their business by getting others to invest via the stock market and share in the success.</p><p><strong><em>Read More: </em></strong><a href="https://www.businessinsider.com/stock-picks-highest-short-interest-retail-squeeze-targets-goldman-sachs-2021-2"><em>GOLDMAN SACHS: These 40 heavily shorted stocks could be the next GameStop if retail traders target themand the group has already nearly doubled over the past 3 months</em></a></p><p>The CEOs of Robinhood, Reddit, hedge fund Citadel, and investment-management firm Melvin Capital are <a href="https://www.businessinsider.com/robinhood-vlad-tenev-ceo-gamestop-waters-house-wall-street-hearing-2021-2">expected to testify as part of a House hearing</a> on the GameStop saga this Thursday, along with YouTube streamer <a href="https://markets.businessinsider.com/news/stocks/gamestop-reddit-trader-keith-gill-roaring-kitty-investigation-regulators-advisor-2021-2-1030044721" data-analytics-module="body_link" data-analytics-post-depth="20" data-uri="f0e191ffebdfcc9b4634e4a710c20afe">Roaring Kitty</a>.</p><p>Cunningham said NYSE officials have not been summoned to testify at the hearing, even though GameStop, AMC and other so-called "meme-stocks" trade on the exchange. "This is not really so much a New York Stock Exchange issue," she said.</p><p>However, she believes regulators should review transparency requirements around short positions held by hedge funds.&nbsp;</p><p><strong><em>Read More:</em></strong> <a href="https://www.businessinsider.com/investing-strategy-bitcoin-etf-us-outlook-5-things-to-know-2021-2"><em>Canadian regulators just approved the world's first Bitcoin ETF. Here are the 5 things investors need to know about the outlook for a US version</em></a></p><p><strong>SEE ALSO:&nbsp;<a href="https://markets.businessinsider.com/currencies/news/cathie-wood-ark-invest-bitcoin-holds-7-million-grayscale-trust-2021-2-1030085954" >Cathie Wood's ARK Invest now holds more than 7 million shares in the Grayscale Bitcoin Trust</a></strong></p><p><a href="https://markets.businessinsider.com/news/stocks/nyse-stock-market-not-casino-gamestop-exchange-officials-stacey-cunningham-2021-2-1030087781#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/coronavirus-myths-debunked-wuhan-china-2020-2">Epidemiologists debunk 13 coronavirus myths</a></p>
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