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)
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)