December 17, 2015
To whom it might concern.
I would like you to consider and approve the IEX application. I say this because as a former floor trader, equity member of the CME and an original e- mini trader at the Chicago Mercantile exchange I know what a fair market is and what the responsibilities of a market maker are.
For the last few years I have witnessed a serious disruption of the market, I see bids and overs that are not there, small market orders that get filled at multiple prices and stops that never get hit. What I'm trying to say, something is not right.
I think that the what IEX is trying to implement might remedy the issues I presented.
We need a fair and level playing field, where all players are treated the same. We need to reintroduce a sense of fair play in the markets again. The exchanges that exist now serve the interest of those that have access to speed or co-location. I'm tired of being picked off and taken advantage of.