Trading System Architecture

I was surprised they use IEX so much, but looking at their website, they are probably funded by them:

“Our previous company, IEX, has done a wonderful job exposing many of the worst aspects of the stock market and offering an alternative model for a stock exchange: one that is fair and transparent. Our hope is to continue fighting the good fight, this time by focusing more specifically on questionable practices at the broker-dealer layer of the system, and again developing a better, fairer approach.”
 
qlai said:
I was surprised they use IEX so much, but looking at their website, they are probably funded by them:

“Our previous company, IEX, has done a wonderful job exposing many of the worst aspects of the stock market and offering an alternative model for a stock exchange: one that is fair and transparent. Our hope is to continue fighting the good fight, this time by focusing more specifically on questionable practices at the broker-dealer layer of the system, and again developing a better, fairer approach.”
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And may be they get better fills at IEX?
 
It says that depends on order size.

May be for retail - fading liquidity us not much of an issue in a liquid instrument.

Institutions who don’t have their own algo and send a big order will have this issue.
 
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