SEC Uses IEX Approval To Begin Rethinking Market Regs
By Carmen Germaine (June 20, 2016, 11:57 PM EDT) -- The U.S. Securities and Exchange Commission's vote Friday to approve IEX Group's plan for a new stock exchange came with a commission guidance widening the agency's interpretation of its national market system rules to allow IEX's built-in "speed bump," a move experts said shows the agency is starting to rethink whether the decade-old rules need revisiting.
The Friday vote allows IEX 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.
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