Katsuyama Shook Up Industry Even Before His IEX Exchange Opened
- Nasdaq, NYSE want new kinds of orders in response to upstart
- IEX begins trading as 13th U.S. stock exchange on Friday
IEX to Begin Trading as 13th U.S. Stock Exchange
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Brad Katsuyama wanted a stock market revolution and he got one even before his Investors Exchange started trading Friday.
IEX Group Inc.’s new exchange, which says it blunts the advantages of speed traders in U.S. stock trading, has already provoked responses from competitors Nasdaq Inc. and NYSE Group Inc., which are aiming to steal some of IEX’s thunder with their own answers to dealing with the breakneck pace of markets.