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By Taylor Tepper
June 16, 2016
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Friday, May 27, 2016. U.S. stocks edged higher, with the S&P 500 on course for its biggest weekly advance since March, while investors awaited remarks from Federal Reserve Chair Janet Yellen for hints on the timing of the next interest-rate increase. Photographer: Michael Nagle/Bloomberg via Getty Images
Traders work on the floor of the New York Stock Exchange (NYSE) in New York on May 27, 2016.
Michael Nagle—Bloomberg/Getty Images

Every day, high speed traders are buying stocks quicker than the average long-term investor, and selling them back at marked-up prices. IEX says it aims to level the playing field in the stock market by eliminating advantages for high-speed traders.

IEX is a stock market alternative that says it will protect the average investor. IEX creates a “speed bump” to slow down trading so traders can’t use relatively higher speeds to their advantage. This delay slows every trader down by 350 millionths of a second. The “speed bump” will have little effect on investors looking for a long-term investment, says IEX.

Brad Katsuyama, President and CEO of IEX, hopes to have IEX approved by the Securities and Exchange Commission later this month.