This document discusses the benefits of Internet Exchange Points (IXPs) and peering. It explains that IXPs provide a neutral place for different actors in the internet ecosystem like content providers, carriers, and ISPs to directly peer and exchange traffic. Direct peering through an IXP offers benefits like reduced latency for local traffic, increased security since traffic stays local, and improved resilience. The document provides examples of how peering keeps local traffic local and discusses factors like route servers that support peering arrangements at an IXP.