Woman Behind ‘Flash Boys’ Exchange Approval Preps for Next Fight

Nobody at IEX Group Inc. had done more to prepare, amend and defend the company’s application to become a new kind of stock exchange than Sophia Lee, its general counsel. So when the U.S. Securities and Exchange Commission approved the move in a 122-page document delivered late on a Friday in June, Lee’s colleagues who lingered late to hear the news could read the regulator’s verdict in her look of triumph. (Bloomberg)

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Launch of ‘Flash Boys’ exchange IEX will test its philosophy

After all the regulatory hand-wringing, traded barbs, TV fights and the book, IEX will launch as a stock exchange beginning on Friday. It is a landmark moment for a trading start-up that has railed against the status quo of the world’s largest stock market. Backed by investors including mutual funds, hedge funds and venture capitalists, Investors Exchange now takes its place among the likes of the New York Stock Exchange and Nasdaq. (Financial Times)

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Nasdaq Tries to Appeal to Investors Lured by New Rival IEX

In the latest sign that American stock exchanges are inching away from a decadelong arms race toward ever greater speed, Nasdaq Inc. plans a new option for investors who complain they can’t keep up with rapid-fire trading. The move shows how exchange operators are angling to respond to IEX Group Inc., the startup that won regulatory approval in June to launch a market that slows the pace of trading. (Wall Street Journal)

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