“The SEC failed to properly consider the costs and burdens imposed by this proposal that will undermine the reliability of our markets and harm tens of millions of retail investors.” A Citadel Securities spokeswoman said in an email in October.
On the other hand, IEX President Ronan Ryan replied in a statement about the SEC actions. He said that he was confident that the decision will be supported.
“Since its launch on Oct. 1, D-Limit is already proving valuable to a broad set of market participants.” Ryan said.
“From our perspective, this recent action should only encourage more investors, brokers, and market makers to use D-Limit. Given that the protections we have created are clearly working.” He added.
