IEX Wins Is Now 13th Stock Exchange

The SEC ruling allows IEX to challenge the 224 year old NYSE (NYSE:ICE), Nasdaq (NASDAQ:NDAQ), and Bats Global (BATS:BATS) as this country's 13th national stock exchange.IEX's "speed bump" delays orders by an infinitesimal amount, but it's enough to protect investors from high-frequency trading which can front-run slower orders on the other exchanges. Opponents of IEX like hedge fund manager and electronic market-market Citadel say the delays create stale prices and the opportunity for manipulation.The approval by the SEC had been expected after a report earlier this week that agency staff had recommended such.

With the official IEX app you can: View real time IEX statistics, including market share and volume predictions. Watch market-wide volumes and market share. Check historical IEX statistics.

"Backrunning is your fund manager’s secret weapon to fight high-frequency traders.

Our research is that asset managers can outfox “back-running” HFTs by making their trades appear random to avoid detection.

Michael Lewis on 60 Minutes

HERO
IAMANINVESTOR.ORG

HFT WORK AROUND - OUR HERO IEXTRADING.COM

Michael Lewis HFT "Flash Boys" part 1 and part 2 explains how the HFT trader gets to trade against you!

Before the collapse of the U.S. financial system in 2008, Brad Katsuyama could tell himself that he bore no responsibility for that system. He worked for the Royal Bank of Canada, for a start.

Front Running is illegal when people do it but NOT when computers do it!

An ethical Canadian hero Brad Katsuyama, an IEX co-founder realizes how the stock market works and as a result developed IEX to throw out the whole wall street system. They slow down the HFT trader. Now everyone is on the same field.

When he investigated, he found that his orders traveled along fibre optic lines and hit the closest exchange first, where high frequency traders would use their speed advantage to buy the shares he wanted and then sell them to him at a slightly higher price – all in milliseconds. "They are able to identify your desire to buy shares in Microsoft and buy them in front of you and sell them back to you at a higher price," Lewis told 60 Minutes. “The United States stock market, the most iconic market in global capitalism, is rigged.”

4/4/14 A VETERAN PROGRAMMER EXPLAINS HOW THE STOCK MARKET BECAME “RIGGED”

One of the heroes of Lewis’s book is Brad Katsuyama, who left Royal Bank of Canada in 2012 to form a new market, IEX Group Inc., along with other former traders from the Toronto- based bank. David Einhorn’s Greenlight Capital Inc. hedge fund invested in the platform, which started trading in October and was established to minimize the influence of predatory strategies, Goldman Sachs Group Inc. has endorsed IEX and is the venue’s biggest broker. IEX was established partly to address concern that technology advances and fragmentation have made the $22 trillion U.S. equity market too fast and opaque. The platform, a dark pool with ambitions to officially become an exchange, imposes a delay of 350 microseconds, or 350 millionths of a second, on orders — enough to curb the fastest trading firms. IEX aims for greater transparency by making its trading rules available for public review, unlike some other electronic venues.

WHAT YOU CAN DO
LEARN YOUR RIGHTS!

IEX Group | A Market That Works For Investors http://www.iextrading.com/ is not run for Wall Street.

Learn your rights!! You can demand that your broker us IEX to execute your trade!
If your broker isn't currently connected, contact them to request they route your trade orders to IEX. Complete this template to automatically generate a form letter you can mail or email to your broker (s). Alternatively, you can call your broker and make the request over the phone.

Here is a list of firms who are connected and ready to trade. Broker subscribers have access to trade on the IEX platform. We seek to provide a broker-neutral destination that welcomes any broker-dealer registered with the SEC.

SEE The Best Execution Rule is now FINRA Rule 5310 Minor Changes to FINRA Best Execution Requirements to take Effect on May 31, 2012

4/3/14
I AM AN INVESTOR .ORG IEX TEMPLATE LETTER

Retail Investor Name
Retail Investor Mailing Address Line 1
Retail Investor Mailing Address Line 2 (Optional)
Retail Investor City, State, Zip

Retail Brokerage Name
Attention: Compliance Department
Retail Brokerage Mailing Address Line 1
Retail Brokerage Mailing Address Line 2 (Optional)
Retail Brokerage City, State, Zip

RE: Order Routing Instructions

To Whom It May Concern:

In accordance with the definition of a directed order under Regulation NMS 242.600 and pursuant to FINRA Rule 5310 Supplementary Material .08: Customer Instructions Regarding the Routing of Orders, please direct all of my orders for any purchase or sale of National Market System equity securities during normal market hours (i.e., 9:30AM ET to 4:00 PM ET) to IEX Services LLC (MPID IEXG), except to the extent that I have otherwise directed you to route any of my orders elsewhere, and provided that there is no known technical issue preventing IEX Services LLC from receiving or processing my orders. These standing order routing instructions apply to the following account(s) held at your firm:

Retail Account Number 1

Retail Account Number 2

I hereby acknowledge that, pursuant to FINRA Rule 5310, by routing my order(s) to IEX Services LLC, your firm is not required to make a best execution determination beyond this specific instruction, although you remain obligated to process my order(s) promptly and in accordance with the terms of the order(s). I further acknowledge that IEX Services LLC is required to meet best execution requirements with respect to handling my order(s), including possibly routing such order(s) to other market centers. As such, any of my orders sent to IEX Services LLC as a result of this instruction should be marked “Routable,” which would enable my orders to be further routed via IEX Services LLC according to their routing methodology to other nationally protected market centers. “Routable” ensures that if IEX cannot satisfy the full quantity of your order, IEX will seek to complete the remainder of your order up or down to your specified buy/sell limit price on other market centers.

I understand that IEX Services LLC charges a fee of $0.0009 per share for orders executed on IEX Services LLC’s platform, or $0.0001 per share for orders routed by IEX Services LLC to another market center for execution (plus any fees charged by any such market center).

Please be sure to contact me if you have any questions regarding this request. Likewise, please notify me if you are unable to honor this request, including when you will be able to honor the request, and whether I will be charged any additional fees specific to this request. I can be reached via the contact information below.

Your name and signature

Contact Information (telephone and/or email)

Contents

IEX https://iextrading.com/ WINS - disrupts the Wall Street Exhanges

IEX wins approval to launch the 13th national stock exchange 2016

Michael Lewis on 60 Minutes

HFT WORK AROUND - OUR HERO IEXTRADING.COM