October 7, 2015
Sep. 15, 2015 |
Investors’ Exchange LLC (Notice of Filing of Application, as Amended, for Registration as a National Securities Exchange under Section 6 of the Securities Exchange Act of 1934) |
While I have been opposed to new exchanges, I am in favor of this exchange because they have tried some innovations that are in the public interest:
they don't pay rebates
they have slowed down access so that speed is not as advantageous as it is in other exchanges.
they have few order types
they do not offer services to privileged clients
None of the other exchanges has tried such innovative concepts. The order type problems at other exchanges demonstrate a secretive manner and a bias toward advantaging professional traders that disadvantage the retail/institutional investors. I am pleased that there is an alternative in the marketplace. IEX is leading by example.
I support IEX becoming an exchange and I hope that my broker will allow their customers to place orders through IEX. Currently, my broker sells their order flow to a financial intermediary.
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sincerely,
Suzanne Hamlet Shatto