IEX stock is falling in the wake of a damning report from the SEC.

IEX, an upstart stock exchange known for its speed bump, is facing some serious backlash after a report from the Securities and Exchange Commission (SEC) found that it was not fully compliant with regulations. The exchange has since responded to the allegations, but its stock is still falling.

What is IEX?

The Intercontinental Exchange’s (ICE) IEX Stock Exchange was launched in 2012 as an alternative to other exchanges. The IEX has often been touted as a solution to high-frequency trading (HFT), which many believe causes market volatility and unfair advantages for traders who are able to trade faster than others. The exchange also features a so-called “speed bump” that slows down orders for 350 microseconds. This makes it more difficult for traders to take advantage of others by front-running their orders.

Criticism

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“A Better Stock Market”

“Critics say that IEX’s main goal isn’t actually to make markets fairer or more transparent but simply to steal business from other exchanges.” — “A Better Stock Market”, The New Yorker, October 12th, 2021.

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“A Long Way From Being Compliant”

“The SEC concluded that IEX failed to register as a national securities exchange or alternative trading system with the regulator before beginning operations, as required by federal law.” — “A Long Way From Being Compliant”, The New York Times , October 12th, 2021.

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New York City has been blanketed by a thick cloud of smoke since July 2021.

Smoke in New York has been a regular occurrence over the last year. The city was covered in a cloud of grey smoke for the first time on July 27th, 2021, when New York Governor Andrew Cuomo announced that he would be shuttering all of the state’s prisons. The announcement came after two inmates escaped from Clinton Correctional Facility in Dannemora, NY on June 6th, which is about 40 miles from the Canadian border.

Inmates Richard Matt and David Sweat escaped after cutting through steel pipes and then climbing through a manhole to freedom. Matt was shot dead by police on June 26th after being spotted near a cabin he broke into. Sweat was captured two days later, and Cuomo made his decision shortly thereafter.

The orange color of New York City’s street lights is part of a two-year experiment to help combat crime.

The New York Police Department has been experimenting with the orange hue of the city’s streetlights in an effort to combat crime. The new lighting scheme was rolled out in July 2019 and will be tested for two years before being implemented across the city. The aim is to reduce crime by making it harder for criminals to hide in dark corners or blend into crowds, according to Police Commissioner James O’Neill.

Video: NYPD

Why are NYC street lights orange?

The NYPD hopes that by changing the color of NYC street lights, it will make it easier for police officers to spot criminals and improve safety on the streets. The orange hue will make it easier for officers to see anyone loitering or committing crimes in darker areas, while also making criminals more visible against crowds.