IEX Adds Ex-NYSE Regulator Crowley as Chief Regulatory Officer

Start-up stock-trading venue IEX Group has brought in a seasoned veteran, former New York Stock Exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin Read this Term (NYSE) official Claudia Crowley, to serve as its newest chief regulatory officer. The latest hiring of Ms. Crowley represents the completion of IEX’s management team that is targeting its launch as an exchange later this year. IEX has been recently teaming with a number of financial services providers including First Derivatives and its Delta Software platform back in October. Furthermore, IEX has operated as a Dark Pool Dark Pool Private exchanges that are not accessible by the investing public for trading securities are known as dark pools.Dark pools are named due to their lack of transparency and occasional predatory trading practices that are performed by high-frequency traders. These exchanges originally into existence towards the end of the 1980s as a way to better facilitate block trading performed by institutional investors. Why Use Dark Pools?Dark pools are used primarily by large-scale investors who do not seek Private exchanges that are not accessible by the investing public for trading securities are known as dark pools.Dark pools are named due to their lack of transparency and occasional predatory trading practices that are performed by high-frequency traders. These exchanges originally into existence towards the end of the 1980s as a way to better facilitate block trading performed by institutional investors. Why Use Dark Pools?Dark pools are used primarily by large-scale investors who do not seek Read this Term which projects itself as a transparent market service, whose smart order routing helps safeguard traders from illicit high-frequency trading practices. Prior to landing at IEX Group, Ms. Crowley served as a long-time executive with NYSE and many affiliated companies. She has already been working with the IEX as a consultant as the company prepares rules and a regulatory filing for the new exchange – presently IEX is targeting a Q3 launch.

Ms. Crowley will begin on April 1, which corresponds to when IEX will be releasing its non-protected displayed quotes, a pivotal step from alternative trading system towards exchange status. IEX plans to conduct its own market surveillance, a function FINRA oversees at most exchanges and will also oversee at IEX, along with the cross-market surveillance it does across all markets. According to Ms. Crowley in a recent statement on the appointment, "It's a paradigm shift and I'd like to be part of the evolution of the market that IEX is building.”