Institutional Investors Like Speed Bumps

The Treasury Department has decided opinions on how exchanges should operate. They made their opinions public this month, addressing hot topics such as order protection rules, speed bump proposals, and how exchanges operate. But did they think about what institutional investors wanted? A Greenwich Associates study shows that those who the markets at one point primarily sought to serve have a different opinion.

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When it comes to the order protection rule mandating trade orders are routed to the venue with the best price, 31% of institutional investors would like...