Federal Appeals Court Clears IEX's Proposed Options Exchange That Deliberately Slows Orders
A federal appeals court on Friday denied Citadel's attempt to stop IEX from launching an options exchange that intentionally slows orders. The ruling clears the way for the new platform.
thehindubusinessline.comA federal appeals court on Friday rejected Citadel's challenge to IEX's planned options exchange that intentionally slows orders. The decision ends the market maker's bid to block the launch. Citadel had sought to prevent IEX from introducing the exchange.
The court ruling removes that obstacle. IEX is preparing to launch the new type of options exchange. The platform will intentionally slow orders as part of its design. Citadel operates as a market maker in the industry.
The company had argued against the exchange's approval. @business reported the appeals court decision that ended Citadel's legal effort.
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