December 17, 2015
To Whom It May Concern:
As a small broker-dealer handling both retail and institutional equity trades for our clients, we were angered and outraged when the revelations of the advantages of high-frequency trading were exposed by Michael Lewis and the good people of IEX. I write to you today to urge your approval of the Investors’ Exchange application, as we are of the opinion that the industry has tolerated latency arbitrage at the hands of the high-frequency trading firms for too long, to the great detriment of the investing public, and, most damagingly, to the confidence of investors in our public equity markets.
Wade Black
Chief Operating Officer
Scarsdale Equities LLC
10 Rockefeller Plaza, Suite 720
New York, NY 10020