NYSE President Stacey Cunningham stated Friday that particular person buyers have participated in an enormous manner in the course of the market’s file rally that is seen the S&P 500 leap 48% from its March 23 low.”The retail investor has been an enormous a part of the market over the previous a number of months for a wide range of causes,” Cunningham stated on CNBC’s “Squawk Field.” She pointed to a number of causes for the current spike, together with zero-commission buying and selling platforms, in addition to customers having extra time on their palms amid stay-at-home orders in the course of the pandemic.”They’re participating on this large rebound from the market,” she added.Her feedback come after e-brokers TD Ameritrade and Interactive Brokers reported file retail buying and selling volumes within the second quarter. Some, together with Social Capital’s Chamath Palihapitiya, have stated that advances in expertise in addition to a better degree of transparency have leveled the taking part in subject between retail buyers and finance professionals.Cunningham stated that whereas it is nice to have such a excessive degree of participation from retail buyers, in addition they should perceive the dangers earlier than stepping into the market.”I’m excited to see the retail investor participating available in the market, however I am additionally involved if they don’t seem to be doing it with data and in addition not understanding the dangers related to it, since you actually do not wish to see retail buyers get damage as a result of they did not perceive that markets can go in each instructions and so they can go fairly rapidly,” she famous.One other market phenomenon this 12 months has been an increase in particular function acquisition firms, or SPACs. Often known as blank-check firms, SPACs elevate cash throughout preliminary public choices, with the last word objective to amass a non-public firm down the road.SPACs have raised a file quantity of capital this 12 months, with Invoice Ackman’s Pershing Sq. Tontine Holdings changing into the biggest on file when it raised $four billion by means of its IPO on Wednesday.Whereas some have argued SPACs are an indictment of the standard IPO course of, Cunningham stated they’re engaging since they provide selections for buyers and firms alike, however that they will not substitute the standard IPO. “It supplies one other path to the general public, which is an efficient factor so these retail buyers aren’t denied these alternatives to put money into probably the most thrilling and dynamic firms which can be coming to market. So we’ll see extra of it, we positively will,” she stated.Cuningham famous that first-day pops for newly public firms will be irritating, and SPACs are engaging since they provide just a little bit extra management.Amid the growth in investor curiosity, she stated she has obtained weekly calls from enterprise executives considering launching a SPAC.Subscribe to CNBC PRO for unique insights and evaluation, and dwell enterprise day programming from all over the world.