October 21, 2024 - In a letter filed with the Securities and Exchange Commission (SEC) today, the FIA Principal Traders Group (FIA PTG) urged the SEC to take the following actions to ensure equalization of the entire Nasdaq collocation campus (NY11 and NY11-4) is completed expeditiously:
- Compel Nasdaq to provide a detailed Equalization Project plan including measurable milestones with required written project progress updates prior to the launch of NY11-4. At this point Nasdaq has had ample time to contemplate what would be required to equalize NY11, it is time for that information to be shared with market participants and the SEC.
- Ensure Nasdaq abides by its assurances that it will equalize latencies between all critical locations in NY11 and NY11-4 and require this equalization to be completed in the shortest time possible.
- Require Nasdaq to provide and justify the timeline necessary for this equalization to market participants and the SEC.
