NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said it needs more time to decide whether to allow a plan by the New York Stock Exchange to offer a new high-speed wireless connection to the exchange that some brokers have blasted as anti-competitive.
FILE PHOTO: The final numbers of the day are displayed above the floor of the New York Stock Exchange. March 20, 2020. REUTERS/Lucas Jackson/File Photo
An SEC decision had been expected by Friday, but the regulator moved the deadline to May 18 after it received at least six letters objecting to the proposal, according to an April 1 filing.
In a market where microseconds separate winners and losers, the new microwave service would arguably be the fastest way to access the Mahwah, New Jersey, data center, owned by NYSE parent Intercontinental Exchange Inc (ICE), where the exchange’s electronic trades are executed.
The microwave data would be transmitted from a recently built 160-foot pole on the data center property….
Source Reuters Tech News
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