IEX

For other uses, see IEX (disambiguation).

Not to be confused with Indian Energy Exchange.
Investors Exchange
TypeStock exchange
LocationNew York, New York (office),
Weehawken, New Jersey (matching engine), United States
Founded2012
OwnerIEX Group, Inc.
Key peopleBrad Katsuyama (CEO)
Ronan Ryan (president)
CurrencyUSD
Volume334 million shares/day, market share 2.4% (February 24, 2021)
Websiteiexexchange.io

Investors Exchange (IEX) is a stock exchange in the United States. It was founded in 2012 in order to mitigate the effects of high-frequency trading.[1] IEX was launched as a national securities exchange in September 2016. On October 24, 2017, it received regulatory approval from the U.S. Securities and Exchange Commission (SEC) to list companies. IEX listed its first public company, Interactive Brokers, on October 5, 2018. The exchange said that companies would be able to list for free for the first five years, before a flat annual rate of $50,000.[2] On September 23, 2019, it announced it was leaving its listing business.[3]

In September 2019, IEX announced that its co-founder and COO, John Schwall, would retire from the company by the end of 2019.[4]

The genesis and early days of the exchange are chronicled in the 2014 book Flash Boys: A Wall Street Revolt by Michael Lewis.[5]

  1. ^ Foxman, Simone (October 25, 2013). "How the 'Navy SEALs' of Trading Are Taking on Wall Street's Predatory Robots". Quartz.
  2. ^ Osipovich, Alexander (October 26, 2017). "Startup Exchange Cleared to Take on NYSE, Nasdaq for Stock Listings". Wall Street Journal. New York. Retrieved October 26, 2017.
  3. ^ "Why we chose to exit the corporate listings business" (Press release). IEX. September 23, 2019. Retrieved September 9, 2022.
  4. ^ "IEX Co-Founder and Chief Operating Officer John Schwall to Retire". Bloomberg. September 12, 2019. Retrieved March 26, 2020.
  5. ^ Lewis, Michael M. (2014). Flash Boys: A Wall Street Revolt (First ed.). New York: W.W. Norton & Company. ISBN 9780393244663. LCCN 2014003208.