The operator of the New York Stock Exchange was given permission by regulators on Tuesday to implement a so-called speed bump on one of its exchanges, allowing it to go head-to-head with upstart rival the Investors' Exchange.
NYSE Group, which is owned by Intercontinental Exchange Inc (ICE), plans to add a delay of a fraction of a second for incoming and outgoing orders on its NYSE MKT exchange, which it is renaming NYSE American.
NYSE has said NYSE American will have a similar model as IEX Group's Investors' Exchange, including a 350-microsecond delay, except it will have electronic market makers with obligations to ease the trading of NYSE American-listed stocks.
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