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 said Friday it had not only approved IEX's application to register as the nation's 13th national...

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