IEX Makes Expansion Bid as New Limit Order is Approved

The Investors Exchange is now looking to propose a second new order type for NBBO non-mid liquidity.

After thus far competing for mid-point trading, which makes up about 14% of total US equities market volume, the Investors Exchange (IEX) is now making a bid for a larger slice of the market—the displayed trading segment—with the approval of its “discretionary limit” order type.

“There seems to be demand for new tools in areas that IEX hasn’t supported historically, and we think we can meet this demand,” says Ronan Ryan, president and co-founder of IEX. Moving into displayed trading, and later

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