Our Exchange Application
Thank you to those who publicly support the IEX exchange application.
"IEX will benefit the equity market structure and all participants."
"We are strong supporters of IEX's application and hope that this paves the path for a more simplistic and fair market structure."
"IEX is a perfect example of a free market self-correction. It is an example of American capitalism."
"IEX has impacted market quality in a most positive way since its inception, and will continue to do so as a recognized stock exchange in an even greater way."
"We fully support approval of IEX's application to be a stock exchange."
"We applaud the improvements IEX has brought to the marketplace…"
"IEX has the best interests of Americans in mind…"
―CEO Jonathan Stein
"If IEX is successful, it can only help to restore investor confidence in a marketplace that many investors believe is broken."
"…we believe that IEX is a beneficial trading venue for our clients as it promotes transparency, simplicity and fairness."
"…we feel IEX will build and maintain an exchange that will benefit long-term investors by delivering innovations that will lead to a fair and competitive platform for all market participants. We applaud their ability to address the issues in the marketplace and look forward to lower costs for our clients."
"We believe that integrity in business can be enhanced by leaders who take a systems-approach to the organizations and environments in which they operate. IEX is a model of such leadership and systems thinking in business, and should be encouraged."
Professor Jon Macey, Yale University
"The Commission should not succumb to the special interests of competitors. It should approve IEX’s application and provide a real alternative for long-term investors."
Brad Katsuyama updates IEX Subscribers and Partners
on our exchange application process.
Become a Member
US-registered broker dealers are eligible to become a Member of Investors Exchange. Broker-dealers must be registered with a Self-Regulatory Organization (SRO) and maintain an active clearing relationship with an NSCC-member clearing firm.
Your firm does not need to be an IEX ATS Subscriber in order to apply for membership to Investors Exchange.Become a Member now
Investors Exchange Launch Timeline
Check back for updates to this timeline.
Form 1 Public on sec.gov
Begin Accepting Member Waive-in Applications
Form 1 publishes to the Federal Register; 45-day public comment period begins
Public comment period ends
- SEC institutes proceedings to determine whether to grant or deny IEX's exchange application
- Form 1, as amended by Amendment Nos. 1-4, public on sec.gov
- SEC publishes Notice of Proposed Commission Interpretation Regarding Automated Quotations Under Regulation NMS
Recommended target for Member Waive-in Applications
2nd Member Testing Opportunity
Deadline for SEC's final determination on whether to grant or deny IEX's Form 1 application for registration as a national securities exchange
3rd Member Testing Opportunity
4th Member Testing Opportunity
5th Member Testing Opportunity
*Timeline based solely on IEX's estimation.