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IEX Group

Stock exchange tech, data, and connectivity

Overview

IEX Group provides stock trading technology, data, and connectivity through its exchange and related services. Its products include Speed Bump, a latency mechanism for incoming orders; The Signal, a machine learning tool that identifies unstable price moments; and Discretionary Peg (D-Peg), an order type that aims for the midpoint unless The Signal is active. It also supplies market data and connectivity to feed quote and trade information to clients, focusing on fair and transparent trading. Revenue comes from trading fees and selling market data and connectivity, with the goal of helping members achieve better and more predictable trading results.

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About IEX Group

Simplify's Rating
Why IEX Group is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & AnalyticsEnterprise SoftwareFintechFinancial Services

Company Size

201-500

Company Stage

Series C

Total Funding

$100.9M

Headquarters

New York City, New York

Founded

2012

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Simplify's take

What believers are saying

  • September 16, 2026 vendor partnership program expands IEX data distribution economics.
  • Q2 2026 market share reached 3.8% overall and 4.7% intraday, supporting revenue leverage.
  • June 18, 2026 Ultra-Passive Signal broadens its execution toolkit for midpoint-sensitive institutional flow.

What critics are saying

  • Citadel's October 17, 2025 petition attacks IEX Options approval and can delay launch.
  • Exchange rival venues can copy midpoint execution features, compressing IEX's differentiation.
  • If regulators or courts restrict the speed bump, IEX loses its core identity.

What makes IEX Group unique

  • IEX's speed bump and Signal still define its latency-arbitrage defense in 2026.
  • IEX Options approval in September 2025 extends its anti-toxic-flow model into options.
  • IEX's market data franchise pairs exchange volume with direct feeds, connectivity, and vendor incentives.

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Funding

Total Funding

$100.9M

Meets

Industry Average

Funded Over

3 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
$62M
$75M
$100M

Benefits

  • Flexible Work Hours
  • Unlimited Paid Time Off
  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Stock Options
  • 401(k) Retirement Plan
  • 401(k) Company Match
  • Parental Leave
  • Family Planning Benefits
  • Fertility Treatment Support
  • Professional Development Budget

Growth & Insights and Company News

6 month growth

2%

1 year growth

0%

2 year growth

-2%
Trader's Magazine
Mar 25th, 2025
IEX Appoints Steven Bonanno as Chief Information Officer

NEW YORK - March 25, 2025 - IEX Group, Inc. (IEX) today announced the appointment of Steven Bonanno as Chief Information Officer (CIO) to support ongoing company growth and innovation in exchange technology.

FX Insider
Sep 16th, 2024
IEX Group Set to Launch Innovative U.S. Options Exchange

IEX group set to launch innovative U.S. Options exchange.

PR Newswire
Sep 16th, 2024
IEX Enters Options Market with Top Talent and Innovative Solutions

IEX also introduced D-Limit, the only displayed order type designed to obtain pre-trade price improvement, enabling Members to achieve prices better than their initial limit price.

PR Newswire
May 3rd, 2024
Iex Strengthens Organization Through New Leadership Appointments

Seasoned Exchange and Capital Markets Executive, Bryan Harkins , Joins IEX Co-Founders as Group President to Lead IEX's Commercial GrowthIEX's Co-Founder, Ronan Ryan , Steps Into the Role of Group Chief Operating OfficerIEX Promotes Florian Seifferer to Group Chief Strategy OfficerNEW YORK, May 3, 2024 /PRNewswire/ -- IEX Group, Inc. (IEX) today announced the appointment of Bryan Harkins as its President, Ronan Ryan as its chief operating officer (COO), and Florian Seifferer as its chief strategy officer (CSO).Harkins is a great addition to the already strong IEX leadership team, with his extensive background in multi-asset exchange trading, Fintech, and capital markets. He brings exceptional experience in advancing product development and driving growth of trading platforms.Before joining IEX, Harkins held roles as the EVP, Head of Markets at Cboe Global Markets overseeing equities, derivatives, and foreign exchange trading, was the President of BIDS trading, the EVP and Head of Markets at BATS Global Markets, the Chief Operating Officer of Direct Edge, and the Chief Revenue Officer of Trumid."Bryan brings tremendous leadership experience across a number of asset classes which is extremely valuable given IEX's potential for growth both now and into the future," said IEX Co-Founder and CEO, Brad Katsuyama. "He has built trusted relationships with a wide variety of market participants, and we could not be more excited to have him be a part of our executive team and what we are building at IEX."In addition to his many leadership roles in the industry, Harkins co-founded Wall Street Rides FAR (for autism research) with his wife in 2015 and serves on the Board of Directors for the Autism Science Foundation."I have watched and admired IEX's innovation and unique approach in a competitive market. They have built a great business, and I am honored to bring my experience to help them execute on the next chapters of their growth and evolution," said Harkins.In the role of Group COO, IEX's co-founder, Ryan, will focus on corporate development, strategic planning, and guide the long-term initiatives aimed at promoting IEX's growth and profitability."Ronan and I have been at the heart of driving IEX forward since we co-founded the company over a decade ago," said IEX Co-Founder and CEO, Brad Katsuyama. "This move will allow IEX to expand the breadth of our executive team as we enter an important competitive period with pending regulatory and market structure changes

PR Newswire
Jun 6th, 2023
Swxtch.Io Launches Industrial Internet Of Things Commercial Offering

NEW YORK, June 6, 2023 /PRNewswire/ -- swXtch.io LLC, a wholly owned subsidiary of IEX Group, Inc., today announced the launch of its Internet of Things (IOT) commercial offering for cloudSwXtch. This offering will help companies accelerate digital transformations and migrate high-performance workloads to the cloud, which was not previously possible.cloudSwXtch is an important advancement for the IOT ecosystem as it introduces the ability for users to equip cloud networking stacks with features that are relied on by on-prem workflows. Several top features now accessible with the availability of cloudSwXtch include multicast, high-availability, and Precision Time Protocol (PTP), among others. To illustrate these capabilities, two leading workflows are outlined below, cloud-based audio & video monitoring and virtual test & simulation.Brent Yates, CEO of swXtch.io, commented on the news, "Cloud computing has been a cornerstone of IOT industry growth, driving new heights in asset and operational performance and opening the door to new business models. With cloudSwXtch, no-code multicast enablement is available to network engineers for the first time on all the major clouds."Cloud-Based Audio & Video MonitoringLocal and state governments often rely on large, rugged camera networks to monitor thousands of real-time streams for traffic, emergency management, and other services. These networks overwhelmingly originate and distribute multicast streams, which were previously incompatible with existing cloud networks.cloudSwXtch offers two primary features to support the migration of these video monitoring workflows from on-prem to cloud: the ability to enable multicast traffic distribution from on-prem to edge and cloud environments and the ability to enable bandwidth conservation using the dynamic bridge feature

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