IEX Hits Back at NYSE, Nasdaq; Insists Data ‘Speed Bump' is Reg NMS-Compliant
The trading venue has responded to objections from the US exchanges in a comment letter published on the SEC's website.
If granted SEC approval, IEX plans to operate a 61km speed bump, or access delay, between its matching engine at the CenturyLink datacenter in Secaucus, NJ, and its primary point-of-presence at Equinix in Mahwah, NJ, which introduces a 350 microsecond delay on member communications sent to the IEX trading system and an additional 350 microsecond delay on communications from the IEX trading system back to members. The trading venue has been operating this speed bump, which "prevents customers
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