, Columnists
‘Flash Boys’ Heroes Ask For Stock Exchange Status
- IEX applies to convert into an exchange like NYSE, Nasdaq
- Move could help boost its market share from about 1.4%
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The heroes of Michael Lewis’s "Flash Boys" are officially amping up their quest to stamp out unfairness in the U.S. stock market.
Brad Katsuyama’s IEX Group Inc. has asked for the U.S. government’s permission to convert into a stock exchange, a move that would put it on equal footing with the New York Stock Exchange and Nasdaq Stock Market. The Securities and Exchange Commission disclosed the application
on Wednesday. After it’s published in the Federal Register, the industry and the general public will have 45 days to comment.