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April 7, 2014

Exclusive: IEX eyes stock exchange status

“The upstart stock trading venue featured in Michael Lewis’ book “Flash Boys: A Wall Street Revolt,” may apply to become a fully registered stock exchange sooner than planned, IEX Group Inc’s chief executive said on Friday.

“Flash Boys” hit the stands on Monday and unleashed a fierce debate over the fairness of the U.S. stock market, which the book characterized as rigged in favor of high-speed traders who use their advantages to bilk the system for billions.

“The book also thrust IEX, and its CEO, Brad Katsuyama, former head of electronic trading at a unit of Royal Bank of Canada, in New York, into the spotlight.

“We’ve been getting interest from corporate clients about listings and I think that definitely increases our interest in looking at becoming an exchange earlier than thought,” Katsuyama said in an interview. He would not specify a time frame.”

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Read full Reuters article here.

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