I don't really see how this is "disrupting" capitalism: it might be disrupting the current exchanges, but if anything that's more capitalistic than leaving them too it. A disruptive version probably wouldn't have to spend a year getting regulatory approval.
National securities exchanges provided marketplaces for trading but some of them also set up rules for public companies listed on them and they are responsible for them as self regulated organization approved by the SEC. This actually gives exchanges a lot of power. We are innovating rules by which public companies are governed (known as the listing standards) and are seeking SEC approval so that we can provide a different public company venue and IPO route. The goal of our listing standards is to move the focus away from quarterly capitalism toward the long-term value creation and getting the company operators and investors aligned via incentives like the long-term voting system, executive compensation, enhanced disclosure and board oversight described in the WSJ article. This is a major disruption to the current vicious cycle of short-termism as it allows our listed companies to trade off juicing the short-term performance for committing to their long-term innovation.
