IEX

Maybe you watched the excellent interview by Charlie Rose and Michael Lewis the other night about his new book on HFT.

Already the playing field is changing! An amazing topic, book and super hero that stepped in to challenge the system (too bad the superhero is from Canada not the USA but hey, close enough).

Here’s my broker and TMF recommended company’s, InteractiveBroker, response to the HFT ruckus:

Responding to the ratcheted-up furor over high-frequency trading, Interactive Brokers (IBKR -0.9%) confirms chatter it will allow customers to route orders through new anti-HFT exchange IEX.“[We’re] the first online broker to offer direct access to IEX to its investors, traders and institutions. IEX is an ATS designed to focus on investor protection and performance.”

Mykie

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Here is Tradeking’s reply to my inquiry on IEX:

We do not offer the ability to choose a specific routing for your orders. Orders are routed to the NBBO (national best bid and offer). Marketable orders are typically filled within a matter of seconds. We guarantee execution at the NBBO. If you do not get an execution at the NBBO, we will credit your commission. We have been rated highly for execution performance by publications such as Kiplingers and Smart Money. We stand behind the guarantee of orders being filled at the NBBO by refunding commission on a trade should the NBBO not have been received.

Please see the following links with more information regarding our order routing process.

https://www.tradeking.com/faqs/trading/basic#bestBidOfferGua…