Tthe real backlash against HFT begins:
- INTERACTIVE BROKERS TO OFFER CUSTOMERS ACCESS TO IEX: CNBC
- INTERACTIVE CUSTOMERS CAN SPECIFY TRADE BE DONE VIA IEX: CNBC
And from CNBC which broke the news:
Interactive Brokers is launching a new service that will for the first time allow retail investors to specify that their orders only go on the new IEX trading platform.
IEX, whose founder Brad Katsuyama is the core character in author Michael Lewis’s new book “Flash Boys,” has said that its structure is designed to keep high-frequency traders from getting ahead of others’ orders.
IEX, which some have called an exchange, does not post public prices and as such is more like a “dark pool” for private trading.
Interactive Brokers is an online discount broker perhaps best known for its founder and CEO, Thomas Peterffy, the Hungarian-born billionaire who stars in the brokerage’s commercials.
And this is how the Goldman-backed IEX exchange proceeds to slowly take over lit markets, and take all important frontrunnable order flow – the lifeblood of HFTs of course- away from the vacuum tubes.
via Zero Hedge http://ift.tt/1hkLBn4 Tyler Durden