Long-Term Stock Exchange Chooses IEX to Launch New IPO Venue

The collaboration will allow LTSE to accelerate the implementation of its innovative listing standards

NEW YORK and SAN FRANCISCO , December 7, 2017 – The​ ​Long-Term​ ​Stock​ ​Exchange​ ​(LTSE)​ ​has​ ​chosen IEX’s​ ​stock​ ​exchange​ ​platform​ ​to​ ​host​ ​a​ ​new​ ​public​ ​markets​ ​experience​ ​that​ ​rewards​ ​modern​ ​companies and​ ​investors​ ​committed​ ​to​ ​a​ ​long-term​ ​vision.

The​ ​LTSE​ ​is​ ​a​ ​new​ ​market​ ​entrant​ ​focused​ ​on​ ​promoting​ ​and​ ​protecting​ ​long-term​ ​value​ ​creation​ ​within public​ ​companies.​ ​The​ ​company​ ​plans​ ​to​ ​do​ ​this​ ​through​ ​innovative​ ​listing​ ​standards​ ​that​ ​use​ ​additional disclosure​ ​and​ ​governance​ ​to​ ​incent​ ​long-term​ ​value​ ​creation​ ​for​ ​both​ ​companies​ ​and​ ​investors.​ ​LTSE’s listing​ ​standards,​ ​tools​ ​and​ ​services​ ​will​ ​be​ ​implemented​ ​on​ ​‘LTSE​ ​Listings​ ​on​ ​IEX.’

IEX​ ​is​ ​a​ ​next​ ​generation​ ​stock​ ​exchange,​ ​funded​ ​and​ ​backed​ ​by​ ​a​ ​consortium​ ​of​ ​long-term​ ​investors including​ ​mutual​ ​funds,​ ​hedge​ ​funds​ ​and​ ​family​ ​offices.​ ​IEX​ ​uses​ ​technology​ ​designed​ ​to​ ​level​ ​the​ ​playing field​ ​for​ ​investors​ ​and​ ​recently​ ​received​ ​approval​ ​from​ ​the​ ​SEC​ ​to​ ​list​ ​public​ ​companies.

IEX’s​ ​recently​ ​approved​ ​listing​ ​standards​ ​are​ ​traditional​ ​and​ ​appeal​ ​to​ ​a​ ​broad​ ​set​ ​of​ ​public​ ​companies looking​ ​to​ ​switch​ ​from​ ​their​ ​current​ ​listings​ ​exchange​ ​to​ ​IEX.​ ​Under​ ​this​ ​new​ ​agreement,​ ​IEX​ ​will​ ​create​ ​a new​ ​listings​ ​category,​ ​‘LTSE​ ​Listings​ ​on​ ​IEX,’​ ​that​ ​will​ ​provide​ ​a​ ​specialized​ ​set​ ​of​ ​standards​ ​designed​ ​for those​ ​private​ ​companies​ ​looking​ ​to​ ​go​ ​public​ ​while​ ​making​ ​a​ ​commitment​ ​to​ ​long-term​ ​value-creation. The​ ​LTSE​ ​will​ ​simultaneously​ ​continue​ ​pursuing​ ​regulatory​ ​approval​ ​to​ ​operate​ ​its​ ​own​ ​exchange​ ​marked by​ ​this​ ​differentiated​ ​approach.​ ​When​ ​regulatory​ ​approval​ ​is​ ​received,​ ​qualified​ ​companies​ ​on​ ​‘LTSE Listings​ ​on​ ​IEX’​ ​will​ ​have​ ​the​ ​opportunity​ ​to​ ​seamlessly​ ​transfer​ ​to​ ​LTSE.

“We​ ​believe​ ​that​ ​for​ ​many​ ​companies,​ ​the​​ ​public​ ​company​ ​experience​ ​today​ ​is​ ​inherently​ ​antithetical​ ​to the​ ​long-term​ ​value​ ​creation​ ​they​ ​want​ ​to​ ​be​ ​their​ ​focus—leaders​ ​are​ ​pressured​ ​to​ ​manage​ ​to​ ​the quarter​ ​instead​ ​of​ ​long-term​ ​fundamentals,”​ ​said​ ​LTSE​ ​founder​ ​and​ ​CEO​ ​Eric​ ​Ries.​ ​“​We​ ​are​ ​excited​ ​to leverage​ ​IEX’s​ ​platform,​ ​which​ ​shares​ ​our​ ​values​ ​of​ ​transparency,​ ​fairness​ ​and​ ​innovation,​ ​to​ ​more quickly​ ​bring​ ​our​ ​long-term​ ​principles​ ​to​ ​life​ ​and​ ​serve​ ​companies​ ​and​ ​investors​ ​eager​ ​for​ ​a​ ​more long-term-focused​ ​public​ ​market​ ​experience.”

“We​ ​are​ ​thrilled​ ​LTSE​ ​has​ ​selected​ ​IEX​ ​as​ ​the​ ​exchange​ ​to​ ​offer​ ​their​ ​long-term​ ​focused​ ​listing​ ​standards to​ ​companies​ ​looking​ ​to​ ​go​ ​public.​ ​We​ ​think​ ​LTSE​ ​offers​ ​a​ ​differentiated​ ​choice​ ​for​ ​companies,​ ​and​ ​will add​ ​to​ ​much​ ​needed​ ​competition​ ​in​ ​the​ ​listings​ ​market,”​ ​said​ ​Brad​ ​Katsuyama,​ ​IEX​ ​co-founder​ ​and​ ​CEO. “IEX​ ​was​ ​built​ ​to​ ​protect​ ​and​ ​serve​ ​both​ ​companies​ ​and​ ​investors​ ​by​ ​offering​ ​a​ ​fairer​ ​option,​ ​and​ ​we​ ​are proud​ ​to​ ​support​ ​innovative​ ​ideas​ ​and​ ​companies.”

IEX​ ​is​ ​working​ ​with​ ​LTSE​ ​to​ ​submit​ ​‘LTSE​ ​Listings​ ​on​ ​IEX’​ ​to​ ​the​ ​Securities​ ​and​ ​Exchange​ ​Commission​ ​(SEC) for​ ​approval.​ ​Upon​ ​SEC​ ​approval,​ ​companies​ ​will​ ​be​ ​eligible​ ​to​ ​list​ ​adhering​ ​to​ ​‘LTSE​ ​Listings​ ​on​ ​IEX’ standards.

About the​ ​Long-Term​ ​Stock​ ​Exchange

The​ ​Long-Term​ ​Stock​ ​Exchange​ ​(LTSE)​ ​is​ ​working​ ​to​ ​become​ ​a​ ​new​ ​national​ ​securities​ ​exchange​ ​designed to​ ​align​ ​investors​ ​and​ ​companies​ ​around​ ​long-term​ ​value​ ​creation.​ ​It​ ​is​ ​reinventing​ ​the​ ​public​ ​company experience​ ​by​ ​bringing​ ​companies​ ​and​ ​investors​ ​together​ ​in​ ​a​ ​shared​ ​goal​ ​via​ ​listing​ ​standards​ ​focused on​ ​novel​ ​approaches​ ​to​ ​disclosure​ ​practices,​ ​shareholder​ ​voting,​ ​executive​ ​compensation,​ ​and​ ​board​ ​and stakeholder​ ​policies.​ ​For​ ​more​ ​information​ ​about​ ​LTSE,​ ​visit​ ​ltse.com.

About IEX

IEX​ ​is​ ​the​ ​Investors​ ​Exchange:​ ​a​ ​fair,​ ​simple,​ ​and​ ​transparent​ ​stock​ ​exchange​ ​dedicated​ ​to​ ​investor​ ​and issuer​ ​protection.​ ​Built​ ​on​ ​the​ ​belief​ ​that​ ​every​ ​investor,​ ​on​ ​every​ ​trade,​ ​has​ ​the​ ​right​ ​to​ ​equal​ ​and​ ​fair terms,​ ​IEX​ ​is​ ​on​ ​a​ ​mission​ ​to​ ​level​ ​the​ ​playing​ ​field​ ​by​ ​eliminating​ ​unfair​ ​advantages​ ​from​ ​the​ ​markets. IEX​ ​has​ ​grown​ ​70%​ ​since​ ​it​ ​launched​ ​as​ ​America’s​ ​newest​ ​stock​ ​exchange​ ​in​ ​2016.​ ​IEX​ ​now​ ​regularly matches​ ​over​ ​140​ ​million​ ​shares​ ​daily​ ​with​ ​a​ ​notional​ ​value​ ​of​ ​over​ ​$6.5​ ​billion,​ ​and​ ​plans​ ​to​ ​begin​ ​listing publicly-traded​ ​companies​ ​in​ ​early​ ​2018.