Commentary

Elaine Wah

Modern Markets, Modern Metrics - A Blog By IEX

In this blog by IEX's Elaine Wah, the newest public exchange looks to refute public claims that the metrics it uses are designed to inflate its own volume numbers and mislead people.

Traders Poll

Do you think it's a good idea to conduct an access fee pilot to assess the pricing models used by many trading venues?

Yes

67%

No

0%

Should have had a pilot program a long time ago.

33%

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April 1, 2004

The Heavy Costs Of NMS Reform

By

The trading industry could be reeling from the price tab for the proposed SEC NMS market structure reforms. The agency has estimated that it would cost $1 billion to implement the trade through proposals over the first two years. The SEC calculates it would cost order execution facilities about $247 million retooling technology. Then there is another $75 million a year in upkeep. Broker dealers would have to find close to $300 million to adjust systems for the opt-out and to report information to customers. The estimated annual maintenance bill is $207 million.