
A NYSE Speed Bump  You Weren't Aware Of - chollida1
https://www.iextrading.com/about/press/op-ed/
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shahbazac
>Second, by offering the faster binary access method, NYSE effectively imposed
a "Speed Bump" on all of its participants who did not upgrade. They
essentially slow down everyone else by offering a faster means of access that
only a few have bothered to adopt given the amount of development work
necessary to do so. We found very little documentation about this offering,
and no public filings with the SEC.

FIX is a text based protocol from the early 90s. The other interface is a
modern, binary protocol. It sounds to me like NYSE upgraded their technology
which resulted in lower latency.

Is NYSE charging more for the binary protocol? Should NYSE just cut off
everyone on the old text protocol to in order to advertise one-true-interface
for everyone? Is IEX trying to earn cheap publicity points by counting on
people's ignorance of financial infrastructure minutia?

