January 30, 2016
Dear SEC,
I live and work in a small community in Indiana. I am an everyday investor. I intend to use IEX so that my orders are not internalized and have a chance of executing against other investor orders as guaranteed by the Securities and Exchange Act of 1934. Therefore, I recommend that IEX be a protected quote.
The IEX Router gives small, individual investors like me the opportunity to trade without questionable strategies like latency arbitrage being applied against my trades without my consent. I'm tired of watching my market orders not completely fill because of Quote Fade - the IEX Router would prevent that.
Other firms who wrote negative comments are asking the SEC to require extremely precise timing breakdowns (to the millionth of a second) from IEX, yet nowhere do existing exchanges disclose the many speed bumps (either intentional or through careless coding) in their systems. In my opinion, their conflict of interest is even further evidence that IEX should be a protected quote.
Thank you,
Jeyan D Oorjitham, Investor