Iex Quotes

One enterprising U.S. brokerage firm, Interactive Brokers, announced that, unlike its competitors, it did not sell retail stock market orders to high-frequency traders, and even installed a button that enabled investors to route their orders directly to IEX, the stock market created by Brad Katsuyama and his team, who would protect them.

iex, or Interactive Elixir for short, is the equivalent of irb (if you are a Rubyist) or node (if you are a hipster).

bright idea came from a new employee, James Cape, who had just joined them from an HFT firm: Coil the fiber. Instead of running straight fiber between the two places, coil thirty-eight miles of fiber and stick it in a compartment the size of a shoebox to simulate the effects of the distance. And that’s what they did. The information flowing between IEX and all the players on it would thus go round and round, in thousands of tiny circles, inside the magic shoebox. From the high-frequency traders’ point of view, it was as if they’d been banished to West Babylon, New York.