TradeStation, a Monex Group company and online broker-dealer and futures commission merchant, has been approved as the first retail online brokerage member firm of the Investors Exchange (IEX).
The SEC approved IEX’s application to become a registered national securities exchange on 17 June 2016.
IEX will begin a security-by-security phase-in period on 19 August and plans to commence full operations as a national securities exchange on 2 September.
TradeStation currently offers customers direct market access to the IEX Alternative Trading System (ATS), and will continue to offer customers direct market access to the Investors Exchange on the 2 September exchange launch.
“TradeStation is pleased to announce it is the first retail online broker approved for exchange membership to offer its clients trading through the new IEX national securities exchange,” says John Bartleman, president of TradeStation Group. “IEX’s philosophy to give all traders an equal opportunity for best execution is consistent with TradeStation’s steadfast goal to empower our clients with the most effective research and analysis software tools and resources available. This includes the power to design, back-test, optimise and automate custom trading strategies and ideas across electronic stock, ETF, equity and index option, and commodity and financial futures markets. Empowerment, transparency and fairness are the keys to providing the best trading platform and execution opportunities to self-directed traders.”
“We thank TradeStation for their support of IEX, which is designed to prioritise the interests of real investors,” says Ronan Ryan, president and co-founder of IEX Group. “We look forward to providing their clients with a differentiated choice for years to come.”