Similar principle... IIRC it delays execution to try and prevent HFT. A big part of Flash Boys by Michael Lewis was chronicling the history of what led to this exchange being created.
They are solving the same problem in a very different way.
They take away a lot of the tools that HFT uses to increase their edge, simplify the ordering structure, and try to make as many trades as possible to be between traders instead of the HFT market makers. But they have not fundamentally redone the structure of orders such that prices are guaranteed to move slowly at the cost of indefinite delays in execution.
Similar principle... IIRC it delays execution to try and prevent HFT. A big part of Flash Boys by Michael Lewis was chronicling the history of what led to this exchange being created.