IEX

IEX was founded on the belief that U.S. financial markets were structurally disadvantageous to traditional investors (compared to high-frequency traders). To address this, IEX developed proprietary technology that includes a “speed bump”—a slight, intentional delay introduced into order processing—as well as a predictive algorithm called “Signal,” which detects periods of price volatility to protect client orders. The company received official U.S. exchange status from the SEC in 2016.

Made famous by Michael Lewis’s 2014 book *Flash Boys*, IEX has established itself as a leading player in the U.S. equity market, ranking among the top three U.S. exchanges in terms of reported trading volume. In 2024, the company expanded its operations into the options market, with the goal of bringing the same innovative technological approach to that sector.

‍