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A trader works on the floor of the New York Stock Exchange on April 25, 2012 in New York City. - 

Driven in part by Michael Lewis' recent book, regulators are taking hard looks at the widespread practice of ultra-high frequency trading in financial markets.  

Lewis' book argues that regular investors lose out when technology gives some traders the ability to jump in and out of trades with lightening speed. The fast folk say there's nothing wrong with what they do. At the center of Lewis' book is an upstart financial trading system out of New York City called IEX that looks for ways to use technology to insulate clients from high speed traders nibbling on the edges of their prices. Now the Wall Street Journal says IEX is in talks to raise several hundred million dollars in cash to turn itself into a full-fledged financial exchange with all the necessary regulatory permissions and safeguards. IEX isn't commenting about this, but the head of Market Operations at this maverick out was willing to talk about his efforts to thwart the fast boys, as he sees it.

Don Bollerman, Head of Market Operations at IEX, joins Marketplace Morning Report host David Brancaccio to discuss. 

Follow David Brancaccio at @DavidBrancaccio