IEX / IB - What does this mean?

Discussion in 'Stocks' started by hoff57, Sep 12, 2018.

  1. hoff57

    hoff57

  2. Nothing, unless other listed companies follow suit, which would mean the end of colocation and other shenanigans perpetrated by HFTs. Thumbs up to IB for leading the way.
     
    d08 and hoff57 like this.
  3. More symbolic than anything - saves some listing fees as long as IEX stays free for listing and issuance of new shares. NYSE used to be prestige place to list and also the most expensive - listing fees are a big part of overall NYSE revenue. NASDAQ became competitive and NYSE adjusted their fees to stay competitive. This has little to do with what trades where. Brokerage houses all wish listings were all where they could interact on a principal basis. That IPO day you see on CNBC costs about $1MIllion or more on NYSE. Less on NASDAQ. If you start to see an IPO list IEX that would be a major change. Again nothing to do about where it trades. Think back to the days when "NYSE" stocks only traded NYSE, etc. Those days are gone.
     
    MoreLeverage and hoff57 like this.
  4. Robert Morse

    Robert Morse Sponsor

    If you are a shareholder of IBKR, you have to wonder if the IEX regulatory team will offer the same or higher requirements for listings. https://iextrading.com/docs/IEX Listing Guide.pdf
    If I were a share holder, I would not want to be the first.

    If you are a trader, and the primary exchange is IEX, you have to be concerned with the Opening and Closing auction. Would the NASDAQ or IEX provide the best liquidity during those auctions. Again, I would not elect to be first.
     
  5. There is some inside baseball here. IEX hired some former IB folks.