All posts from in,

Southeastern Urges SEC to Approve IEX Exchange Application

The management team of Southeastern Asset Management headed by O. Mason Hawkins urged the Securities and Exchange Commission (SEC) to approve the application of Investors’ Exchange LLC (IEX) to operate a national securities exchange.

IEX is seeking to become a registered stock exchange in the United States. The firm is anti high-frequency trading, and aims to start its operations in the first quarter of 2016.

Southeastern noted that the Commission tried to increase market competition and reduce the execution costs for the benefit of investors through its rulemaking combines with technological advancements over the past few decades.

According to Southeastern, the efforts of the SEC were largely successful, but it also resulted to various unintentional consequences, which were discussed by buy-side firms in numerous comment letters.

Southeastern is not an investor in...