IEX Group, Inc.

IEX Group, Inc. operates a national securities exchange built around a single premise: that market structure should serve investors rather than exploit them. Founded in 2012 by a team of traders and technologists, the company was created after its founders concluded that the savings of millions of Americans in mutual funds and pension funds were being eroded by predatory high-frequency trading strategies. IEX Exchange was approved by the SEC as a national securities exchange in 2016, following several years of advocacy for fairer market design.

The company's engineering work is concentrated in market microstructure, low-latency systems and machine learning applied to trading protection. Its best-known mechanism, the Speed Bump, consists of 38 miles of coiled fibre-optic cable that introduces a slight, uniform delay to level the playing field between market participants. Signal, a machine-learning-powered formula, is designed to protect orders during moments of price instability. IEX also offers proprietary order types, including D-Peg and D-Limit.

IEX Group is based in the United States, with its intellectual origins in work done at the Royal Bank of Canada. The firm operates across financial services, stock exchanges, capital markets and asset management, and its founding story is chronicled in Michael Lewis's book Flash Boys. Its stated culture emphasises fairness, investor protection and engineering-led innovation in market structure.