Virtu Financial publicly backed IEX's proposed options exchange, which incorporates a 350-microsecond delay on trades. In a letter to the Securities and Exchange Commission dated July 9, Virtu described IEX's platform as a "well-intentioned" step.
Virtu believes this proposed speed bump could benefit retail investors and enhance transparency in the options market. This stance positions Virtu in contrast to other major market participants, such as Citadel Securities and the Securities Industry and Financial Markets Association, who urged the SEC to reject the proposal.
The company's support for IEX's initiative underscores its commitment to market structures that aim to level the playing field for various market participants. This advocacy could influence regulatory decisions regarding options market design and potentially impact the competitive landscape.
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