Iex

IEX Group, Inc. is a financial technology company whose principal business is the Investors Exchange (IEX Exchange), a U.S. equities stock exchange headquartered in New York with its matching engine in Weehawken, New Jersey and an initial point of presence in a Secaucus, New Jersey data center. The company was founded in 2012 to mitigate the effects of high-frequency trading, began as an alternative trading system (ATS) that opened for trading on October 25, 2013, and was approved by the SEC as a national securities exchange on June 17, 2016, launching as an exchange in September 2016.

The exchange positions itself on execution quality for broker-dealers and institutional investors, offering order types (market, limit, primary peg, midpoint peg and discretionary peg), a router that accesses liquidity on IEX and away markets, market data feeds (including DEEP and downloadable historical pcap data on a T+1 basis), and a retail program. Its stated operating principles include publishing matching-engine rules, offering a limited set of order types, charging fixed fees, refusing to pay for order flow, and not offering colocation or rebates. IEX has also disclosed an options business, with a Head of Options and separate IEX Options leadership listed on its site.

Beyond the exchange, IEX operated IEX Cloud, a cloud-based financial data platform providing IEX proprietary equities data and third-party datasets via APIs; IEX Group told clients on May 31, 2024 that the business would shut down, and it closed on August 31, 2024, with assets acquired by former IEX Cloud executives who relaunched them as Blue Sky Data. IEX also previously ran a listings business, which it exited in September 2019 after listing its first company, Interactive Brokers, in October 2018.