July 17, 2019 – In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) urged the SEC not to approve EDGA’s proposal to introduce an asymmetric speed bump. FIA PTG said they remain opposed to artificial latency mechanisms of all kinds and are not aware of any data showing that speed bumps result in material improvements to market quality or benefit end investors. Moreover, asymmetric speed bumps certainly fail the Exchange Act standards by unfairly discriminating amongst market participants and significantly burdening market competition.
