Bullish Names Ex-NYSE President Stacey Cunningham as President

Cunningham's appointment brings traditional exchange pedigree to Bullish just as it takes on a large acquisition, and her prior working relationship with CEO Tom Farley suggests a coordinated leadership structure rather than a purely external hire. The share-based funding signals that Bullish is using its equity as acquisition currency, which ties the deal's success to how the market values its stock. Whether Cunningham's NYSE experience translates into smoother integration of Equiniti, and how the share issuance affects Bullish's capital position, are the open questions.