The IEX Exchange is a stock exchange based in New York which places a special emphasis on protecting investors and minimizing front-running by high-speed traders.
Transparency in the way that orders are matched, the exclusion of complex order types which are unfamiliar to most investors and the use of innovative technology to ensure that all investors receive information simultaneously differentiate the IEX from other stock exchanges.
Rather than using the price-time priority system employed by most stock exchanges, the IEX uses a price-broker trade priority sequence aimed at negating the advantage of high-frequency trading. Additionally, the IEX does not offer incentives to high-frequency traders – a practice common among major exchanges.
Trading hours: Monday through Friday 9:30 a.m to 4:00 p.m ET (UTC-5)
Settlement cycle: T+3