January 3, 2016
I support the IEX exchange application.
I support it because it's time the SEC stops being the handmaiden of the very firms it's tasked to regulate.
What does the SEC think about the fact that new hires there see it as an opportunity to land a job at one of the institutions it's supposed to be regulating?
What incentive do those employees have to support and promote proper enforcement?
It's also time the SEC got serious about its mandate and its enforcement of EXISTING rules. Do you folks even know what those are?
I doubt it since they're being broken every single day by high frequency traders. Everyone else can see it, why can't you?
If you're going to allow the invisible tax of HFT on all equities transactions to continue (which is what everyone expects since they have you in their back pocket), at least give legitimate participants (ie: those who actually assume risk and contribute to capital formation) the option to avoid that scam.
Approving the IEX exchange application with its protected quote is that option.
Support the majority (those of us who are not out to rip people off) for a change and approve this application.