MMI CEO in Morning Consult: IEX application approval creates best execution wait-and-see

Ryan Rainey reports that one critic of IEX’s application has been the New York-based Modern Markets Initiative. MMI represents high-frequency traders.  With the SEC approval of IEX, “the debate will now move to best execution, and whether IEX can improve its quality to be on par with other exchanges,” MMI chief executive Bill Harts said. “Brokers must be diligent about getting the best deal for their clients.”  Harts said the debate over IEX’s application was notable because it was the “first time [high-frequency trading] had a real seat at the table on these important issues.”