3 ms·

USA Today did a profile today as well: http://www.usatoday.com/story/money/2016/02/25/why-wall-street-hates-man/79518728/ http://www.usatoday.com/story/money/20

• smoorman1024 11y ago
  That must be related to the publicity of "Flash Boys" and the fact that some entities are rallying the public to send comment letters. BATS when it became an exchange was nothing but a vanilla competitor marketed as a Better Automated Trading System. It didn't have anything like a speed bump.
• elecengin 11y ago
  A bit disingenuous - the handful against include major exchanges like NYSE and BATS as well as major trading firms like Citadel. You could argue that these are direct competitors of IEX and therefore have a vested interest in preventing the new exchange - or you could argue they are best suited to see the holes in the application. Keep in mind that previous exchange applications have went through without this level of discussion. You could argue that this is because the other exchanges are "scared" of IEX. Or... consider the possibility that IEX's application has some faults. For example, much of the focus has been on IEX's smart order router not following the same rules as all the other exchange participants. The argument is too nuanced to summarize here... but you should never decide an argument based on number of responses!
• cpwright 11y ago
  I think Matt Levine points out that most of the comment letters from individual investors should not be taken with much weight.