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Will IEX Group Be Allowed to Launch Stock Exchange?

Company's 'speed bump' and other tools it says are designed to protect customers are creating speed bumps in bid to be a stock exchange.

By Dave Michaels, Bloomberg | Updated on February 18, 2016

IEX Group Inc. should have a clear path to winning Securities and Exchange Commission (SEC) approval to be a stock exchange despite claims that its trademark “speed bump” would violate market rules, according to a top U.S. financial regulator.

IEX’s proposal to briefly pause incoming orders is probably consistent with rules that seek to ensure a fair and competitive trading environment, Rick Ketchum, the chief executive officer of the Financial Industry Regulatory Authority (Finra), said Wednesday. Regulations “should be sufficiently flexible” to accommodate IEX’s proposal as long as the delay is fully disclosed and found to benefit investors, he added.

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