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IEX Announces: Trading Information Disclosure

IEX Trading Alert #2014 - 009

Please Route To: Trading and Trade Support

What you need to know:

  • IEX will make publicly available weekly trading data content in a format consistent with reporting requirements as required by FINRA Rule 4552.
  • The first set of data will be posted, in a format identical to IEX's FINRA submission, on Wednesday, May 28th.
  • Subsequent postings will fall on the 7th business day following the last trading day of each week.

What is changing?

The SEC approved FINRA Rule 4552 on January 24, 2014, which requires each Alternative Trading System (ATS) to report to FINRA, on a 7 business day delay, daily traded volume and trade count by symbol on a weekly basis.

IEX fully supports this step towards greater transparency for industry participants, and believes it will enrich the decision-making ability of investors, brokers and other market participants alike.

Concurrent to filing weekly trading data with FINRA, IEX will make publicly available for download an identical set of data on its website immediately after we submit the data to FINRA.

How can I access the data?

The weekly data required by FINRA is volume and number of trades, by NMS symbol and by day.

The data will be available as a flat file on the Insights section of www.iextrading.com, by clicking on to our Terms of Use.

The data layout will be consistent with the format required by FINRA

e.g.
#AH#|2014-05-12 13:54:51|IEXG|IEXG|EQ|2014-04-28
#AR#|2014-04-28|A||123456789|27055|148
#AR#|2014-04-28|AA||ABCDEFGHI|48772|170
#AR#|2014-04-28|AAL||1234ABCDE|24502|84
#AR#|2014-04-28|AAN||ABCDE1234|1100|11

When can I expect the data to be made publicly available?

FINRA is planning to publish the reported data regarding Tier 1 NMS stocks on a two-week delayed basis, and other NMS stocks on a four-week delayed basis.

However, IEX will publish the data on our website immediately after we submit the data to FINRA.

IEX will first post data covering the week ended Friday, May 16th, on Wednesday, May 28th.

Subsequently, postings will fall on or immediately after the 7th business day following the last trading day each week.

Where can I learn more?

About IEX

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