Economics
IEX Outduels Citadel, NYSE as ‘Flash Boys’ Exchange Approved
- SEC approves Katsuyama’s fix for market some say is rigged
- Nasdaq warns suit against new IEX status could likely succeed
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Before “Flash Boys” came along; before the “60 Minutes” crew turned up; before, in short, all of Wall Street knew his name, Brad Katsuyama championed a controversial idea: the U.S. stock market is rigged.
Today, after outmaneuvering some of the oldest, richest and most powerful names in the business, Katsuyama and his upstart company, IEX Group Inc., finally got what they wanted: designation as a full-fledged stock exchange.