A controversial practice tearing Wall Street apart is about to be put to the test

The SEC is supporting an examination of the maker taker stock trading model, where certain stock exchanges compensate market making firms and other firms for executing stock orders on their venues. NYSE, Nasdaq, and Cboe are in favor of the model, while IEX, America’s newest stock exchange, is against it.  A new-pilot program approved by the agency on Wednesday will test the efficacy of the maker taker model.

The Securities and Exchange Commission just

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