The biggest obstacle to this is that the Exchange's primary customers are the electronic trading firms. A firm like NASDAQ makes the majority of its revenue fr

The biggest obstacle to this is that the Exchange's primary customers are the electronic trading firms. A firm like NASDAQ makes the majority of its revenue from co-location services and high-speed market data lines. It's difficult for a new exchange to break into the space (or an existing one to go out on its own) with rules that disadvantage high speed traders. IEX at 0.9% market share for example has been working on solving the problems with a slow SIP feed for a couple years now. I like these kids of ideas, but a bit of regulation couldn't hurt to speed things up...