Goldman too opposes unfair edge sought by proposed exchange IEX

New York

GOLDMAN Sachs joined other investment firms in complaining that a proposed stock exchange would give itself an unfair advantage by withholding trade data from other exchanges for fractions of a second.

Investors Exchange, or IEX, is trying to get approval to operate as an official exchange. It bills itself as the investor-friendly alternative to other exchanges, where high-frequency traders lie in wait to make trades based, in part, on the buy and sell orders their fast computer programs can see from other brokers.