IEX's Katsuyama on the biggest problem in the markets now
For years, Wall Street traders have been obsessed with speed-- billions of dollars at stake, earned pennies at a time. But one firm decided to slow things down to try to level the playing field. And against all odds and despite harsh objections by rivals, the SEC approved IEX as a public exchange last year. Best known for their speed bump of 350 microseconds-- faster than the blink of an eye-- IEX is also known for bucking other Wall Street trends: free access to data feeds, no rebates or special kickbacks, and a simple set of 5 order types versus the hundreds that span other trading venues. We speak with Brad Katsuyama, CEO of IEX, about how IEX has fared since launching as an exchange.