December 14, 2015
"...where the interests of longterm investors conflict with short term trading strategies, the conflict cannot be reconciled by stating that the NMS should benefit all investors. In particular, failing to adopt a price protection rule because short term trading strategies can be dependent on millisecond response times would be unreasonable in that it would elevate such strategies over the interests of millions of long term investors – a result that would be directly contrary to the purposes of the Exchange Act."
This excerpt from Reg NMS reinforces the belief of many that exchange approval of IEX is a step in the right direction back towards the word of law as laid out in the Exchange Act.
IEX approval has never been more important.