January 5, 2016
Mr. Brent J. Fields
Secretary
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549-1090
Re: Investors Exchange LLC – Granting Extension for Form 1 Application for
Registration as a National Securities Exchange Pursuant to Section 6 of the Securities Exchange Act of 1934
Dear Mr. Fields:
I urge the Securities and Exchange Commission to grant Investors Exchange LLC Application for Registration as a National Securities Exchange and become a fully licensed U.S. securities exchange.
Like millions of other Americans who entered the workforce in the 1980s, I'm responsible for my IRA and 401(k) retirement investment portfolios. I believe U.S. investors need an exchange like IEX which is putting the goal of protecting long-term investors ahead of the interests of short term focused, professional intermediaries.
To restore investor confidence in the trustworthiness and fairness of our markets, I hope you will approve IEX's application to become an Exchange with a protected quotation. I also believe our markets will become more stable and reliable with an Exchange like IEX.
I've worked in the computer industry since 1983 and understand well the technologies for high-performance computing and low-latency networking. All market participants should trade on a fair and equal footing, regardless of their net worth or order size. I look forward to using the IEX router to eliminate or reduce the chances of my orders, or orders of mutual funds I own, to fall prey to trading strategies which employ latency arbitrage. Latency arbitrage has to stop now.
Sincerely,
David Powell
Sammamish, WA