{"id":13470,"date":"2016-06-18T21:04:29","date_gmt":"2016-06-19T01:04:29","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=13470"},"modified":"2016-06-18T21:04:29","modified_gmt":"2016-06-19T01:04:29","slug":"iex-group-gains-approval-for-stock-exchange-the-new-york-times","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/18\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\/","title":{"rendered":"IEX Group Gains Approval for Stock Exchange | The New York Times"},"content":{"rendered":"<p><a href=\"http:\/\/www.nytimes.com\/2016\/06\/18\/business\/dealbook\/iex-group-gains-approval-for-stock-exchange.html?_r=0\"><img data-recalc-dims=\"1\" decoding=\"async\" class=\"alignnone size-full\" src=\"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2016\/06\/18db-exchange-master768.jpg?w=525&#038;ssl=1\" alt=\"\" \/><\/a><\/p>\n<p>By NATHANIEL POPPER:<\/p>\n<blockquote><p>America is getting a new stock exchange from the most prominent critics of high-frequency trading.<\/p>\n<p>After months of delays and a brutal lobbying battle that divided Wall Street, the IEX Group won approval on Friday from the Securities and Exchange Commission to become the nation\u2019s 13th official stock exchange.IEX is run by the people at the center of the Michael Lewis book, \u201cFlash Boys: A Wall Street Revolt,\u201d which profiles the early efforts of the IEX team to create a trading exchange that would be somewhat shielded from high-frequency traders.<\/p>\n<p>Other exchanges and trading firms had urged the S.E.C. to reject the IEX application to become an exchange.<\/p>\n<p>Opponents of IEX, including the other stock exchanges, have argued that the structure of the new exchange will add unnecessary new complexities into an already complex stock market, and potentially end up hurting small investors.<\/p>\n<p>&#8230;..The most novel and controversial feature of the IEX exchange is a so-called speed bump that would slow down trading slightly to throw off traders that rely only on speed.<\/p>\n<p>The speed bump slows trades down by only 350 microseconds \u2014 or millionths of a second \u2014 but that is an eternity in a stock exchange universe in which computers can buy and sell stocks in nanoseconds \u2014 or billionths of a second.<\/p>\n<p>The Nasdaq, and other existing exchanges, have said that the IEX\u2019s speed bump will violate rules mandating that exchanges make their prices available to all parties at the same time.\n<\/p><\/blockquote>\n<p>Judging from the barrage of objections from other exchanges, they see IEX as a threat. Not as a threat to small investors as they so eloquently argued in their submissions &#8212; and whose interests they have ignored for years &#8212; but a threat to the billions of dollars in fees they receive from high-frequency traders for privileged co-location and access to stock exchange data feeds. Why would any investor want to trade on an exchange that encourages HFT when there is another exchange that offers a level playing field?<\/p>\n<p>Source: <a href=\"http:\/\/www.nytimes.com\/2016\/06\/18\/business\/dealbook\/iex-group-gains-approval-for-stock-exchange.html\">IEX Group Gains Approval for Stock Exchange &#8211; The New York Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By NATHANIEL POPPER: America is getting a new stock exchange from the most prominent critics of high-frequency trading. After months of delays and a brutal lobbying battle that divided Wall Street, the IEX Group won approval on Friday from the Securities and Exchange Commission to become the nation\u2019s 13th official stock exchange.IEX is run by &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/18\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;IEX Group Gains Approval for Stock Exchange | The New York Times&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[57,34],"tags":[],"class_list":["post-13470","post","type-post","status-publish","format-standard","hentry","category-stock-markets","category-us-canada-countries-regions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IEX Group Gains Approval for Stock Exchange | The New York Times - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IEX Group Gains Approval for Stock Exchange | The New York Times - the patient investor\" \/>\n<meta property=\"og:description\" content=\"By NATHANIEL POPPER: America is getting a new stock exchange from the most prominent critics of high-frequency trading. After months of delays and a brutal lobbying battle that divided Wall Street, the IEX Group won approval on Friday from the Securities and Exchange Commission to become the nation\u2019s 13th official stock exchange.IEX is run by &hellip; Continue reading &quot;IEX Group Gains Approval for Stock Exchange | The New York Times&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2016\/06\/18\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:published_time\" content=\"2016-06-19T01:04:29+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/thepatientinvestor.com\/wp-content\/uploads\/2016\/06\/18db-exchange-master768.jpg\" \/>\n<meta name=\"author\" content=\"ColinTwiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"ColinTwiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/06\\\/18\\\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/06\\\/18\\\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\\\/\"},\"author\":{\"name\":\"ColinTwiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/cb072791ac83e8bae585007c133d54a5\"},\"headline\":\"IEX Group Gains Approval for Stock Exchange | The New York Times\",\"datePublished\":\"2016-06-19T01:04:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/06\\\/18\\\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\\\/\"},\"wordCount\":363,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2016\\\/06\\\/18\\\/iex-group-gains-approval-for-stock-exchange-the-new-york-times\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2016\\\/06\\\/18db-exchange-master768.jpg\",\"articleSection\":[\"Stock Markets\",\"US &amp; 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People in finance are paid a lot of money to disrupt every sector of our economy. But when it comes to their own\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5523,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/19\/for-superfast-stock-traders-a-way-to-jump-ahead-in-line-wsj-com\/","url_meta":{"origin":13470,"position":1},"title":"For Superfast Stock Traders, a Way to Jump Ahead in Line &#8211; WSJ.com","author":"Colin Twiggs","date":"September 19, 2012","format":false,"excerpt":"By SCOTT PATTERSON and JENNY STRASBURG Haim Bodek was a Wall Street insider at Goldman Sachs and UBS before launching his own [high-frequency] trading firm. Mr. Bodek approached the Securities and Exchange Commission last year alleging that stock exchanges, in a race for more revenue, had worked with rapid-fire trading\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5278,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/16\/asx-revenue-from-high-frequency-trading-soars\/","url_meta":{"origin":13470,"position":2},"title":"ASX revenue from high frequency trading soars","author":"Colin Twiggs","date":"August 16, 2012","format":false,"excerpt":"A new data center, catering for high-speed trading, is becoming a major revenue-source for the ASX. My concern is that this could change the entire focus of the ASX, outweighing revenue from traditional stock market trading. Tom Steinert-Threlkeld at the Securities Technology Monitor writes: The Australian Securities Exchange Group said\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3560,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/02\/22\/schapiro-questions-role-of-high-frequency-traders-wsj-com\/","url_meta":{"origin":13470,"position":3},"title":"Schapiro Questions Role of High-Frequency Traders &#8211; WSJ.com","author":"ColinTwiggs","date":"February 22, 2012","format":false,"excerpt":"Securities and Exchange Commission Chairman Mary Schapiro said Wednesday she is worried about the role of high-frequency traders in the stock market and hinted at new policies aimed at curbing frenetic market activity. A large portion of trading in the equities market has little to do with \"the fundamentals of\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5469,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/14\/nyse-to-pay-5-million-penalty-to-sec-wsj-com\/","url_meta":{"origin":13470,"position":4},"title":"NYSE to Pay $5 Million Penalty to SEC &#8211; WSJ.com","author":"Colin Twiggs","date":"September 14, 2012","format":false,"excerpt":"By CHAD BRAY NYSE Euronext NYX +2.23% agreed to pay a $5 million penalty to settle allegations by the Securities and Exchange Commission that technology issues at the New York Stock Exchange gave some customers an \"improper head start\" on trading information. The case marks the first time the SEC\u2026","rel":"","context":"In &quot;Stock Markets&quot;","block_context":{"text":"Stock Markets","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/stock-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5262,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/14\/nanex-high-frequency-traders-at-work-video\/","url_meta":{"origin":13470,"position":5},"title":"Nanex ~ High frequency traders at work [video]","author":"Colin Twiggs","date":"August 14, 2012","format":false,"excerpt":"High Frequency Traders (HFT) jam thousands of quotes in MasterCard stock at the millisecond level on May 16, 2012. From Eric Hunsader - Nanex http:\/\/youtu.be\/sDriNz8oAlc Entire video shows about 5 seconds of time, slowed so you can see what goes on at the millisecond level. Each box represents one exchange.\u2026","rel":"","context":"In &quot;Trading&quot;","block_context":{"text":"Trading","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/trading\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/sDriNz8oAlc\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=13470"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/13470\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=13470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=13470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=13470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}