This morning we would like to tell you how we are planning to make use of IEX as a registered stock exchange. Beginning this Friday, IEX’s displayed quote (which we have already been experimenting with for months) will become protected. This means that if they are at the NBBO, other market centers, will have to route to them, as well as brokers.


IEX Exchange Protected Quote Phase-In


First, please be aware of their phase in schedule, and the stocks that are involved:




Second, please be aware of their displayed liquidity pricing; it’s free. No (more…)

Back on June 12, 2013, NYSE Arca was granted approval by the SEC to initiate a pilot program  where they would pay market makers to add liquidity in thinly traded exchange traded products (ETP’s). NYSE Arca describes this program as:

“The ETP Incentive Program is designed to improve the quality of market for lower-volume ETPs, thereby incentivizing them to list on the Exchange.”

“Under this optional program, issuers are given the flexibility to choose the amount they would like to (more…)