Debate Rages on Over Chicago Stock Exchange's Speed Bump
Industry members disagree over the merits of CHX's 350-microsecond speed bump currently awaiting regulatory approval.
It might be a speed bump, but it certainly seems to get people going.
The Chicago Stock Exchange's (CHX) Liquidity Taking Access Delay (LTAD) is meant to slow things down, but in actuality the proposed rule change has amplified the ongoing conversation around the speed of the markets.
LTAD is a 350-microsecond delay that would be applied to all liquidity-taking orders sent to the exchange. The goal of LTAD is to protect market-makers from latency arbitrage.
As was the case with IEX's request
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