Saxo Bank offers direct access to IEX
10 April 2014 | 1839 views | 0
Source: Saxo Bank
Saxo Bank, the online trading and investment specialist, has today announced the addition of IEX to its award-winning online trading platform, SaxoTrader.
Saxo Bank is the first retail broker to offer access to IEX, an alternative trading system (ATS) which focuses on investor protection and performance by resisting high frequency trading.
Access to IEX on Saxo Bank's platform went live on Wednesday, 9 April, for both CFDs and cash shares. It can be used by all clients whose trading accounts have enabled "advanced orders/algo orders".
IEX is owned exclusively by a consortium of buy-side investors, including mutual funds, hedge funds and family offices, and is aiming to become an exchange once it hits 5 percent of US stock volume.
Claus Nielsen, Head of Markets at Saxo Bank, said:
"Saxo Bank has for some time been including IEX in our SOR venue selection. Yesterday, Saxo Bank took a next step and introduced a direct route to IEX as we believe in providing our clients with the ability to make choices themselves, choices they believe in and choices that will, hopefully, optimise their trading opportunities.
"Saxo Bank has developed a leading multi-asset trading platform which is changing the way institutions interact with their clients and the way professional investors trade. Led by our strong technology heritage, we believe that technology brings about more efficient markets but also more complex. In this environment, not only regulators, but also exchanges, brokers and investors will need to continuously evolve to understand and navigate this complexity. The addition of IEX to our platform ensures that we can offer our clients the widest access to global exchange and trading venues, including dark pools."