Hi Mahesh, Whichever exchange will get more volumes, will help in price discovery and hence even more traders will flock to that exchange;think NSE vs BSE… giving it a positive feedback loop; but now if there is a central party which sets/discovers the price, the traders can trade on any exchange whichever offers lower transaction cost. think icici direct vs Zerodha.
So this 2 paise per trade today at IEX could go to 1 paise in future if thats the only differentiator.
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