IEX

The Investors Exchange (IEX; also known as the IEX Exchange) is a stock exchange in the United States. It was founded in 2012 in order to mitigate the effects of high-frequency trading (HFT). 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. On September 23, 2019, it announced it was leaving its listing business. In September 2019, IEX announced that its co-founder and COO, John Schwall, would retire from the company by the end of 2019. The genesis and early days of the exchange are chronicled in the 2014 book Flash Boys: A Wall Street Revolt by Michael Lewis.