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Not apocryphal; IEX has 38 miles of wire in their building. Tom Scott did a video a few years ago about it: https://www.youtube.com/watch?v=d8BcCLLX4N4

Does IEX have any liquidity or uptake yet?

Apparently they have 2.6% market share for trading in the US?

I think Misdicorl meant that their story of wanting to be the furthest away is perhaps untrue, not the cables.