Forgotten Disruptors: The Buy Side

Recapping a key theme from Waters USA.


Earlier this week, I had a chat with an industry veteran at a holiday party about the current situation with equities dark pool IEX. As I sipped cranberry margarita—which, it turns out, goes as nicely with sugar lining the glass as salt—he predicted that their S-1 exchange application to the Securities and Exchange Commission (SEC) would go through, but not without significant changes.

Why? "Because they want to run a 100-meter dash with a 15-meter head start," he said. "Of course the rest of us