FIA PTG submitted a letter to the SEC today in support of the Commission's decision to stay a staff approval of the CHX Liquidity Enhancing Access Delay (LEAD). The proposal was approved by the Division of Trading and Markets using its delegated authority. The Commissioners decided to review the delegated action and stay the approval.
FIA PTG has filed four comment letters opposing various access delays proposed by CHX because of their asymmetric nature and discriminatory consequences. As in these four letters, the letter filed today also urged the SEC to address the fundamental issues in equity market structure rather than taking a reactive and piecemeal approach to individual exchange proposals.