Not so Fast: SEC’s SIP Rule Speeds Ahead, But Faces Bumpy Road
Jo is skeptical that the SEC’s finalized market data infrastructure rule will make the public market data feeds faster.
The Securities and Exchange Commission (SEC) says that market data consumers operate in a two-tier system, where the haves can afford direct feeds from exchanges, and the have-nots make do with the public, consolidated feeds from the securities information processors (SIPs), which contain less information and are slower.
As SEC commissioner Allison Herren Lee put it last year while announcing the agency’s finalization of its market data infrastructure modernization rule: “In today’s markets
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