December 23, 2015
The SEC should not approve 2 different speeds for IEX unless they're willing to also decide upon a max intentional speed bump for all lit exchanges. The reason of course being that such a maximum *will* be the only only thing standing in the way of an exchange arms race to consistently increase speed bumps if this decision is taken to its logical conclusion.
There is no exchange out there that will allow a competitor to direct quotes to them at a faster speed then they're allowed to direct at it, period!
Also, SEC staffers looking for good non biased commentary on this rule should review columns written about it by Matt Levine of BloombergView http://www.bloombergview.com/contributors/matt-levine
-Jon D.