The long journey of alternate trading system IEX becoming a full-fledged stock exchange might be over. The Wall Street Journal is reporting that the staffof the US Securities and Exchnage Commission has apporved IEX’s application to operate a a stock exchange.
The WSJ reports that the SEC staff “has recommended that the agency approve IEX Group Inc.s controversial bid to launch a new stock exchange, according to people familiar with the matter, signaling likely approval when the agencys commissioners vote on the order Friday.
The Journal add that the agency’s “three sitting commissioners arent required to support the staffs views, and one may vote no. But the full commission rarely rejects a formal staff recommendation.”
Traders will report more as the story unfolds.
