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The Wall Street Journal reports that the IEX Group is set to receive an approval from the U.S. Securities and Exchange Commission (SEC) to become an exchange. With a number of high-frequency trading companies lobbying against the bid, the IEX has faced substantial challenges and delays for its application to get approved.
Sources with knowledge of the matter cited by the Wall Street Journal have stated that the staff of the SEC that is looking into the IEX bid has recommended that the application be granted.
The IEX Group has become notoriously famous in the aftermath of the publication of the ... (read more)