IEX’s First Fees Buck Data Charge Trend
IEX keeps its data fee-free, but announces charges for costly and inefficient "logical ports."
Startup exchange IEX plans to introduce limited connectivity fees starting in October, and—unlike other exchanges, for whom market data sales represent a growing revenue stream—has decided against introducing fees for its market data, focusing instead on costly and under-used mechanisms by which broker-dealers send orders to the exchange.
In a statement published Friday, August 9, accompanying a Securities and Exchange Commission filing seeking approval for its plans, IEX CEO Brad Katsuyama
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