Citadel Document Critical Of IEX Focuses Issue On Delay

As one of the most heated market structure debates in the history of the Securities and Exchange Commission comes to a head, the complex issue might just come down to the issue of exactly how de minimus is de minimus and does it impact market stability? The debate seems to be narrowing as a Citadel document sent "on background" designed to educate the media makes has made its way into the hands of decision makers, according to a source. ValueWalk received the document from a source not related to Citadel. In reviewing the Citadel document, perhaps what isn’t being addressed is a point that will be most important in the SEC’s potential motion picture drama playing out in...