Another Broker Turns to IEX Amid HFT Backlash

Another major broker for active traders in turning to new anti-HFT exchange, IEX.

Fresh off news yesterday that Interactive Brokers would allow customer to route orders to the exchange, TradeStation announced a similar move today. The shift comes in response to the backlash against high-freqeuncy trading amid Michael Lewis' new book 'Flash Boys,' which exposes the 'skimming' practices of the firms.

Release from TradeStation:

TradeStation, a Monex Group company (Monex Group, Inc. is listed on the first section of the Tokyo Stock Exchange, code: 8698), issued the following statement today from Salomon Sredni, CEO of TradeStation Group:

TradeStation is proud to announce we have started working with IEX to provide connectivity and access to its new and growing market center.

In recent days IEX has been very vocal about its dedication to institutionalizing fairness in the markets. At TradeStation, we fully support innovation and technology that aim to evolve market structure and provide a level playing field for all.

We have been troubled by recent reports in the media that high-frequency traders are taking advantage of information to which, legally or not, they have access and are using this information to gain an unfair advantage over retail and institutional investors and traders. We believe that the industry and regulators will investigate and address the issues that have been raised. TradeStation is committed to avoiding all conflicts with our customers by not engaging in any proprietary trading.

You May Also Be Interested In

• Trump on Iran: we're trying to work out a deal that's fair
• Varonis Said To Weigh Sale After Takeover Interest - Bloomberg
• Pelican Way Research shorts Hyliion Holdings (HYLN) on VFG deal concerns