February 2, 2016
Dear SEC,
I've been a retail investor for over a decade now and have a large portion of my personal wealth in the public markets. I have noticed over the past many years the deterioration of market liquidity and HFTs sniping my orders on a regular basis. I'm frequently affected by sub-penny quote orders which front run any orders I place.
In light of such predatory quoting, I request IEX be a protected quote because I want the chance to have my orders executed on a fair market that does not provide select participants with speed advantages and I don't want my orders sent to an Exchange that identifies my orders as being from a retail investor (BATS/EDGX, NASDAQ, NYSE). I intend to use the IEX Router because I cant afford to build my own and I do not want my orders subject to latency arbitrage.
Thank you.
Roger