Citadel Securities Seeks to Stop Launch of IEX Options Exchange
By and Katherine Doherty
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Citadel Securities is asking the Securities and Exchange Commission to stop a new exchange founded by the stars of Michael Lewis's 2014 book Flash Boys from entering the options market.
As part of its planned expansion into the options market, exchange operator IEX Group Inc. would be able to delay, cancel and reprice options orders on behalf of market makers — a new mechanism that IEX has touted as a way to avoid so-called latency arbitrage that it say adds operational costs to the market.
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