Tatel, Circuit Judge:
Modern stock exchanges transmit data about trades and prices at lightning-fast speeds. But as this case demonstrates, the administrative process demands considerably more patience.
Several stock exchanges challenge a Securities and Exchange Commission (SEC) order directing them to submit a proposal to replace three...
Let's get started

Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.