December 30, 2015
I would like to add my encouragement to that of so many other submissions in favor of approving the IEX's application to operate as a national exchange. I agree with the points which various writers have made regarding the value of outlawing the unfair advantages which many exchanges give high frequency traders for a price. However, the hurdle in this situation is much lower: simply allowing IEX to operate without choosing to sell unfair advantages to high frequency traders. If supporters are correct, IEX will in so doing make for far more robust and fair markets in the United States, as I believe it will. If not, there is absolutely no downside to the public in letting IEX exist under its intended model. In other words, the potential upside from approving the application is vast, and the downside is zero. Therefore, from the perspective of the public good, I believe it is inarguably correct to approve IEX's application. Thank you