Saxo Bank has become the first retail platform to offer direct access to the American trading system IEX.
IEX has just been added to Saxo Bank’s online platform, SaxoTrader, for clients to trade in both CFDs and cash shares.
IEX is an alternative trading system which focuses on investor protection and performance by resisting high frequency trading. The exchange is owned 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 per cent of US stock volume.
Saxo Bank’s head of markets, Claus Nielsen, said: “Saxo Bank has for some time been including IEX in our SOR venue selection. We 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.
“Led by our strong technology heritage, we believe that technology brings about more efficient markets but also more complex ones. 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.”
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