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IEX Proposes to Cut Outbound Latency on Messages Sent From IEX Back to Users

December 17th | 2020

IEX recently filed a proposed rule change that would eliminate additional outbound latency the exchange added to messages sent from IEX back to users. This is not a change to IEX’s “speed bump”, which will remain intact; this change eliminates additional latency IEX added to prevent information leakage that could reduce an IEX member’s ability to access liquidity on another market following a trade on IEX. IEX cites “significant improvements in routing technology as well as reductions in Securities Information Processor (“SIP”) market data dissemination latencies” as reasons why the additional outbound latency is no longer necessary. An interesting thought is whether the SEC’s latest overhaul of the SIP data will ultimately render IEX’s speed bump obsolete.

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