Subject: Comment for File No. SR-IEX-2025-02
From: Zykell O'Donnell
Affiliation:

Jul. 19, 2025

As an individual investor, I am not affiliated with PFOF Brokers and Wholesalers. In contrast, IEX options provide retail investors with a more equitable trading environment by emphasizing transparency and mitigating predatory high-frequency trading practices commonly associated with entities such as Citadel. Unlike conventional exchanges, IEX’s model effectively reduces front-running and latency arbitrage, ensuring that retail orders are executed at more favorable prices with reduced manipulation. Its intentional delay mechanism mitigates the speed advantage, enabling everyday investors to compete with institutional entities on an equal footing. This structure fosters trust and empowers retail traders to participate in options markets with enhanced confidence in price fairness.