ASA Supports IEX's Options Order Innovation

WASHINGTON – The American Securities Association (ASA) today released a letter sent to the Securities and Exchange Commission (SEC) in support of IEX's proposal to offer market makers the ability to use an Options Risk Parameter.

"The strength of the U.S. capital markets lies in the ability of private sector innovation, not administrative state micro-management," said ASA President and CEO Chris Iacovella. "If a regulator doesn’t allow private market innovation to respond to the differing needs of market participants, then the market cannot become more competitive, which is exactly why private market innovations must be allowed to succeed or fail based on how the market reacts. The IEX proposal is fully consistent with these principles, and it should be allowed to succeed or fail on its merits."

Read ASA's full submission here.

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The American Securities Association (ASA) represents the retail and institutional capital markets interests of regional financial services firms who provide Main Street businesses with access to capital and advise hardworking Americans how to create and preserve wealth. ASA’s mission is to promote trust and confidence among investors, facilitate capital formation, and support efficient and competitively balanced capital markets. This mission advances financial independence, stimulates job creation, and increases prosperity. The ASA has a geographically diverse membership of almost one hundred members that spans the Heartland, Southwest, Southeast, Atlantic, and Pacific Northwest regions of the United States.