IEX Struggles to Change Markets After Initial Excitement

IEX came on the scene a few years ago with a lot of excitement with CEO Brad Katsuyama gaining fame in the Michael Lewis Flash Boys book; “One of the things we underestimated was how much the industry revolved around exchanges paying for order flow,” said Mr Katsuyama to the FT. “People want us to fail. I think from that perspective we’re really proud of where we are but there’s a lot more to do.”; IEX accounts for just 3 of every 100 stocks traded in the U.S., Nasdaq, NYSE and CBOE account for 60 percent; IEX now faces more competition and some in the industry believe this year could be a tipping point for the exchange. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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