December 13, 2015
IEX is very needed. When not practicing law, I invest and trade in biotech and other stocks and options through Schwab and Etrade. It is disgusting and unfair to see and know that my trades are routed to Ken Griffin/Citadel or others in return for a fee. Simply put, SEC, you are are failing to protect the little guy and we little guys are simply cannon fodder for the big guys. Are you trying to encourage the return of Bernie Maddoff types, since apparently he was one of the original payors for order flow. http://www.ft.com/intl/cms/s/0/054c5f34-9e8f-11e1-a24e-00144feabdc0.html#axzz3uFkCaBY8.
One more point. This is sort of off-topic, but why do you allow the public exchanges to take 3 days to close a trade through the NYSE, NASDAQ etc when the high speed traders can do thousands of trades, in a flash. Again, by tolerating this kind of activity, you are just leaving us little guys as cannon fodder. While I wait 3 days for trades to clear, I can lose (or fail to make) all kinds of money.