December 23, 2015
I maintain that the stock exchange should be a place of free and equal exchange between seller and buyer undertaken on an even and balanced playing field for all. The majority of players on the stock exchange playing field are honest and believe in fair play and competition. However, as in the sports world, there are individuals who seek enhancing substances to increase their personal chances of beating the competition. In horse racing all jockey's are weighed and some are required to add lead weights to their saddles in an effort to make the race more even and fair.
IEX is an exchange that operates on a level playing field that makes it fair for all its customers. Those who would seek an advantage in high speed trading are slowed by IEX to the normal trading speed offered to all other IEX sellers and buyers. In other words IEX enforces the rule of playing on a level and equal playing field for all. I urge the SEC to approve the IEX applicant to become an Exchange with a protected quotation thus maintaining fairplay, honesty, equality, and security in the stock market itself.
For too long now the market has been abducted by those who do not believe in equality and balance in a totally free market. Rather they seek ways to circumvent the principles and values of honest trading. They seek the unfair and greedy advantage. Now they are very vocal and running scared because they know that IEX is what is required to help positively influence the Stock Market by leading the charge for fair and equal treatment on the trading playing field. IEX is the antithesis of everything the high-speed enabled traders stand for.
I personally believe that the IEX business philosophy represents the real American trading model of honesty and fair play TO ALL! To refuse IEX the status it seeks would be a slap in the face to millions of ordinary American investors and many businesses who believe in honest trading.
To continue the sports analogy...the SEC has to step up to the plate...and play ball fairly with IEX!!
Respectfully submitted,
Christopher Milligan
Burlington, ON, Canada