Direct Edge Holdings (Direct Edge) today issued the following statement in response to the U.S. Securities and Exchange Commission’s (SEC) censure of the EDGA Exchange, Inc. and EDGX Exchange, Inc. in conjunction with the settlement of an administrative proceeding to resolve issues in connection with two separate systems incidents.
“Direct Edge understands and embraces the responsibilities that come with being a registered national securities exchange. Several months ago, we developed a comprehensive plan to ensure the fulfillment of our obligations in a sustainable, repeatable and demonstrable way. We have vigorously executed on this plan, with significant investments made to enhance our technology, personnel and processes. Our entire organization stands committed to these efforts and conducting ourselves as a model exchange operator.”