January 8, 2016
IEX Comment letter to SEC
January 8, 2016
Dear SEC,
Please consider the following comments in support of approving IEX's Exchange application. It strikes me as obvious that both the public and its government would want to approve an exchange that assures fairness to those trading in public securities. Why would anyone resist making an exchange available that prevents others from profiting unfairly at the expense of the public? Removing the opportunity for a select few traders to trade in advance of the public is a good thing and a process we wholly support. IEX would be the exchange we would trade so as to avoid others using a "latency arbitrage" system to take advantage of our trading intentions. Please approve IEX's application and let the public markets choose between an exchange permitting latency arbitrage or an exchange that prevents front running when they trade.
We also hope the SEC takes this opportunity and makes a strong statement confirming its role in protecting the public when trading. We know what we will choose, IEX.
Cordially,
Michael A. Schroeder
President
Roundstone Insurance, Ltd.
27887 Clemens Road
Westlake, Ohio 44145