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IEX Wins Nod For Stock Exchange With 'Speed Bump'

Law360, Los Angeles (June 17, 2016, 10:27 PM EDT) -- The U.S. Securities and Exchange Commission gave the go-ahead to IEX Group’s plan for a new stock exchange that comes with a built-in “speed bump” to check high-speed traders, despite protests from those traders that the move would interrupt trades marketwide.

The startup has long planned to open a platform called Investors Exchange LLC that would operate with a 350-microsecond speed bump to deter high-speed traders who may be able to cut the queue ahead of others on trades, gaining an advantage on price.

The SEC...
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