http://www.reuters.com/article/2015/09/16/iexgroup-exchange-idUSL1N11M1C420150916 IEX currently matches up shares for buyers and sellers of stocks as an alternative trading system, a trading platform that has less onerous regulatory obligations than an exchange. As such, it has reached a market share of nearly 2 percent and on its busiest day traded 414 million shares. If the exchange filing is approved by the U.S. Securities and Exchange Commission, IEX will be able to compete against Nasdaq and NYSE for corporate listings. It will also receive a cut of the fees charged to market participants for a consolidated feed of trading data from all exchanges. (Reporting by John McCrank in New York; Editing by Marguerita Choy)
HFTs Lose: IEX Granted Exchange Status As SEC Says The Speed Race Is Over http://www.zerohedge.com/news/2016-...nted-exchange-status-sec-says-speed-race-over
IEX gives Americans a stock exchange with a 'speed bump' The exchange, approvedFridayby the Securities and Exchange Commission, willtrade with a delayof 350 microseconds - enough to keep high-frequency traders from seizing an advantage on the rest of the market. The firm gained prominence following references to it in Michael Lewis' 2014 bestselling book “Flash Boys.”(New York Times)