NYSE Alternative Pitches Benefits of Low-Speed Trading
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Every day, high speed traders are buying stocks quicker than the average long-term investor, and selling them back at marked-up prices. IEX says it aims to level the playing field in the stock market by eliminating advantages for high-speed traders.
IEX is a stock market alternative that says it will protect the average investor. IEX creates a "speed bump" to slow down trading so traders can't use relatively higher speeds to their advantage. This delay slows every trader down by 350 millionths of a second. The "speed bump" will have little effect on investors looking for a long-term investment, says IEX.
Brad Katsuyama, President and CEO of IEX, hopes to have IEX approved by the Securities and Exchange Commission later this month.