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Rating:IEX Promises To Protect Mutual Fund Shops Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, May 24, 2012

IEX Promises To Protect Mutual Fund Shops

News summary by MFWire's editors

A group of market experts are working to develop a system to protect mutual fund managers from high frequency traders, the Wall Street Journal reports. The group is called IEX Group Inc.

IEX is currently scheduled to launch in 2013.

Bradley Katsuyama, formerly the head of electronic banking at the Royal Bank of Canada, said building a trading platform which does not allow high-frequency traders would allow fund managers to do their jobs without speedy buys and sells drastically affecting the market.

The WSJ interviews Vanguard senior trader Michael Buek, who said that the new platform would need to bring in a substantial amount of flow to make using it worthwhile. 

Edited by: Ben Geier

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