Investors' Exchange LLC (IEX) is a newly approved public exchange that is designed to discourage aggressive high …-frequency trading. We explain how IEX differs from traditional continuous double auction markets and present summary data on IEX … transactions by trader class and or- der type. Our primary contribution is a simple analytic model of IEX as a constrained version …

Several financial exchanges have recently introduced messaging delays (e.g., a 350 microsecond delay at IEX and NYSE …

Investors' Exchange LLC (IEX) is a newly approved public exchange that is designed to discourage aggressive high …-frequency trading. We explain how IEX differs from traditional continuous double auction markets and present summary data on IEX … transactions by trader class and or- der type. Our primary contribution is a simple analytic model of IEX as a constrained version …

Several financial exchanges have recently introduced messaging delays (e.g., a 350 microsecond delay at IEX and NYSE …