SEC Delays Ruling on Chicago Stock Exchange's Speed Bump
The Commission extends its deadline for a decision to December 21.
The SEC has added 45 days to its deadline for ruling on LTAD, which was originally set to be ruled on by November 6—45 days after the publication of notice for LTAD. The Commission now has until December 21 to "approve, disapprove or institute proceedings to determine whether to disapprove the proposed rule change," according to a statement by the SEC.
LTAD is a 350-microsecond delay that would be applied to all liquidity-taking orders sent to the exchange. CHX believes the speed bump will
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