Ever since IEX proposed the D-Limit order last year, it has been contentious. Citadel and the legacy stock exchanges have voiced considerably opposition to the proposed order type, and Citadel has filed a lawsuit to force the SEC to overturn its approval. While the D.C. Circuit Court considers the lawsuit, three amicus briefs have just been filed in support of the SEC approval. Amicus briefs, or sometimes called “friend of the court” briefs are filed by people who are not part of the litigation but can assist the court by offering their expertise on the issues of the case. The three (more…)

Here is our written testimony (and video of our opening statement) before the House Financial Services Committee:https://www.youtube.com/watch?v=865mOuKhZNYhttps://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-arnuks-20210317.pdf (more…)