The Investor Exchange's (IEX) Impact on Investors

with Alan Chow and Chris Lawrey, In-press at Journal of Asset Management, Accepted October 2020


The Investors Exchange (IEX) claims that it improves investor transactions in the US Equity markets. The founders of IEX suggest that other equity exchanges cater more to traders such as high-frequency and algorithmic traders, thus giving them a distinct advantage over the typical investor. We examine the immediate impact IEX had on US equity markets when it became a national exchange in mid-2016. Initial analysis supports that the IEX shows signs of meeting their intent to provide a more investor friendly exchange for those who chose to trade on it.

Read more at Journal of Asset Management.

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