Nasdaq Inc and New York Stock Exchange Sue the Securities and Exchange Comission


“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.