January 3, 2016
Dear SEC,
Approval of the IEX Exchange application levels the playing field somewhat for investors by neutralizing the speed advantage currently enjoyed by the HFT.
Existing Exchanges benefit unfairly the HFT who do not contribute to an efficient market but rather distort the market process for their own gain at the expense of the individual investor thereby contributing to the public frustration with Wall Street.
As a small investor, my intent would be to use the IEX Router since I can not afford to build or buy my own and do not want my orders to be subject to latency arbitrage.
Approval of the IEX application will benefit the SEC as well by enhancing market protection for the long term investor over HFT who are more interested in and contribute to market volatility (flash crashes) than the creation of liquidity.
I urge the SEC to promptly approve the IEX Exchange application with the expectation of an improved market alternative for the public investor.
Ritchie Baird
President and CEO
RBH Holdings Inc.