Founders: Brad Katsuyama (CEO), Ronan Ryan, Rob Park, Daniel Aisen, Ben Asien, Don Bollerman, Tara McKee, Stan Feldman, John Schwall
Launched: 2013
Funding: $100.9 million
Valuation: $313 million (PitchBook)
Disrupting: Stock exchanges, financial services
Rival: NYSE, Nasdaq
George Kavallines
IEX is trying to convince companies to ditch the NYSE and Nasdaq and list their shares on this newly formed exchange. At least a dozen companies, including some S&P 500 names, are reportedly showing interest in switching. Among them: Wynn Resorts, whose chairman and CEO, Steve Wynn, is an investor in IEX.
Read More FULL LIST: 2017 DISRUPTOR 50
The New York City-based company positions itself as a simple and more transparent stock exchange offering fees and technology that are better for individual investors. It also promises that its technology protects those investors from the pricing edge that high-frequency traders often have over individual investors. Co-founder and CEO Brad Katsuyama, who was formerly head of global electronic sales and trading at RBC Capital Markets, says the company received approval from the SEC in June and launched in September. IEX plans to begin listing publicly traded companies later this year.
Investors seem to think a new player on the field is a good thing. The company has already attracted more than $100 million in funding. In addition to Wynn, investors include Bain Capital Ventures, Franklin Templeton Investments and Spark Capital.
