“Flash Boys” IEX Launches

Note from the Publisher:  We’ve been waiting for the launch of Brad Katsuyama’s IEX Exchange for what seems like forever.  Made famous by Michael Lewis’ salacious book “Flash Boys”, Katsuyama has been promoting the pending launch of his new exchange for a while now, aimed at equalizing the playing field for all traders by implementing a tiny delay on all incoming and outgoing orders so high frequency traders can’t “scalp” the trades in advance.  It will be REALLY interesting to see if the market supports this exchange.  The concept is well-intended, now let’s see if it is also viable. 

“On Friday, the Investors Exchange (IEX) Group’s controversial new national stock exchange made its public launch.

Only two stocks were available for trade on opening day: Vonage and Windstream Holdings.  The company is planning to slowly phase in more stocks, and will add eight more by Wednesday, August 24th.

The following week, IEX will begin adding stocks that have tickers beginning with the last few letters of the alphabet, before ultimately adding all remaining stocks into the exchange by Friday, September 2nd. The gradual progression is meant to ensure that there are no early issues with the system.”

Read Full Article at Zack’s