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Wall Street News

A Bump in the Road: NYSE Wins Regulatory Approval

May 17, 2017

The NYSE Group, owned by Intercontinental Exchange (ICE), became the second U.S. exchange to get SEC permission to implement a speed bump on one of its exchanges. The NYSE MKT exchange - to be renamed 'NYSE American' - plans on adding a 350-microsecond delay to incoming and outgoing orders, thus enabling it to compete more directly with Investors' Exchange (IEX Group).

 

In issuing its order, the SEC chose to disregard objections filed by the IEX Group, which complained that NYSE had not done enough to explain its thinking behind its proposal.

 

[Click here for SEC Order Approving the Delay Mechanism.]