Corrliex is a vendor that sold technology that measured the latency of orders on the Phlx. Phlx reported that the discontinuation was due to a lack of customer interest in the tool. View release in full here (links externally to SEC website).

View release in full here (links externally to SEC website).

In Commissioner Scott O'Malia's opening statement before the Technology Advisory Committee, he argued that the reforms currently under consideration fail to close the existing regulatory gap that allows firms to self-report the status, balance and location of the customer funds. O'Malia went on to note that the industry must develop a fully automated technology solution that can verify customer balances held by the FCM, custodial banks and the clearing house. [SL Comment: As an ardent opponent of Dodd-Frank, I note again the irony that FCMs were put forward as a better alternative to tri-party

View release in full here (links externally to SEC website).

In recent days, other exchanges have likewise extended similar pilot programs. View release in full here (links externally to SEC website).