Video Friday: Join the Movement for Fair Equity Trading

iexIEX is the first equity trading venue owned exclusively by a consortium of buy-side investors, including mutual funds, hedge funds, and family offices. Dedicated to institutionalizing fairness in the markets, IEX will provide a more balanced marketplace via simplified market structure design and cutting-edge technology. IEX offers a fair-access platform to any qualified broker dealer. IEX is driven by a team of cross-industry experts with backgrounds spanning market venues, electronic trading, and broker-dealers.

60 Minutes – Is the U.S. Stock Market Rigged? 
Steve Kroft reports on a new book from Michael Lewis called “Flash Boys” that reveals how some high-speed traders work the stock market to their advantage.

http://youtu.be/sK0aoQ5yVmA

The Great HFT Debate With Michael Lewis On CNBC

http://youtu.be/RcpmHyPD_PY

A coalition for change was formed in 2012. Among them were investment professionals representing millions of Americans. The coalition built IEX, a marketplace built for investors, by investors. In a shift for the industry, IEX has no broker ownership. IEX is an example of investor-driven change on Wall Street.

IEX supports transparency by publishing its operating rules: an unprecedented event. This is called Form ATS and is publicly available on the IEX website. IEX publishes monthly operating metrics in an ongoing committment to transparency.

Jim Clark, founder of Silicon Graphics, Netscape and WebMD stands with IEX. He believes in IEX’s potential to “institutionalize fairness in the markets.” Michael Lewis profiled IEX in his new book Flash Boys. But the work is far from over.

The I Am An Investor movement supports integrity, fairness and transparency in the financial markets. IEX created IAmAnInvestor.org to empower investors and to help educate the public on how the markets work. I Am An Investor is dedicated to raising awareness of innovators and organizations championing investor empowerment. Click the following link:  How IEX Makes a Difference.

Take Action: Take Charge of Your Trades

Join me: Instruct your broker to trade on IEX, a trading venue open to any registered broker dealer and the only ATS to be owned by the institutional buy side. Generate a letter that directs your broker to trade on IEX.

Step 1: Download the letter template (.doc).  (Mac.pages)   (Plain Text)

Step 2: Complete the highlighted fields on the letter.

Step 3: Print and mail or email the letter to your broker. The customer service pages of certain broker websites may offer the option for you to upload the letter.

Note: You may want to call your broker to confirm that they are connected or in the process of connecting to IEX. Many brokers are not yet connected. It is your right to ask why they are not connected.

Step 4: Share your experience with the investing public. Tweet @IEXTrading and include the hash-tag #fairmarkets.

Here’s the response I got from my broker:

Thank you for the email. Due to our regulations we must seek best execution for our clients and at this time do not work with IEX as they are not a best execution market.Please click here for additional information on our order routing: https://www.tdameritrade.com/tools-and-platforms/trader-offering/order-execution.page

I say, keep the letters and e-mails coming, especially from large institutional investors.  See also —   Poll: Does High-Frequency Trading Do More Harm Than Good? and Michael Lewis discusses his latest book: “Flash Boys: A Wall Street Revolt” with Charlie Rose.

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