December 11, 2015
I do not support IEX in their bid to become an exchange under their current implementation.
The 350ms "speed bump" is not the issue in of itself and I don't have problem with it. What I do have problem with is that their own order routers are allowed to circumvent this speed bump.
If approved, every other exchange is going to implement the same circumvention. Complexity will increase and the divide between sophisticated traders and investors will increase.
With an approval, you are creating a new race condition between the exchanges that will only cause more market chaos.
Only approve IEX if they too are forced to go over the speed bump with their routers.