January 6, 2016
I support IEX being a national exchange.
I do not believe that the high speed and high frequency trading companies are creating liquidity by advertising prices they intend to cancel before the bid or ask offer can be accepted.
If I am accepting an offer, I want a to know that I am accepting against someone that really wants to sell/buy and is another principal. If I am making an offer, I want to know that when someone sees it that I really want to sell/buy.
IEX is the only marketplace where I feel comfortable that real principals are on the other side of my trade.
Nicholas C. Stein