The IEX stock exchange opened to the public on Friday, but there are a few things investor’s need to know before checking out the new market.
Here are a few things that Fortune has to say concerning the IEX stock exchange.
- It was the subject of the book 2014 book Flash Boys.
- Approval for the market was given by the SEC in June.
- The market acted as a dark pool prior to this.
- There are currently only two stock trading on the market.
- Another eight stock will be added on August 24.
- The exchange will add stocks tickers that start with “Y” or “Z” on August 29.
- Later in that week is when stock tickers starting starting with “V,” “W,” “X” or “Y” start trading.
- September 2 will see all other stock tickers added to the IEX stock exchange.
- The exchange is a rival to NYSE and NASDAQ.
- NYSE and NASDAQ both seeked to block its SEC approval, but the organization ruled that it would promote competition.
- The new stock exchange’s market share for daily trading is between 1.7% and 1.8%.
- CEO Brad Katsuyama thinks this could increase to a range of 7% to 8% over the next two to three years.
- The IEX exchange includes a 350-microsecond delay, called a speed bump, to thwart high-frequency traders.
- This feature is designed to make stock trading fair for the average investor.
- Due to the new stock exchange’s official status, brokers must now route trades through it if it has the best prices at the time.
To learn more about the new IEX stock exchange, follow these links.
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