To our API users,
At IEX Group, we believe in transparency. Improving access to high-quality and relevant financial data is a critical part of expanding that transparency in the markets and broader business ecosystem. Through widely-available financial data, we have the potential to empower everyone – from investors and brokers to entrepreneurs and academics – to create, innovate, and grow their businesses.
At the Investors Exchange, we do that by offering our exchange market data for free, through our data feeds and our web-based API. Since we launched it in early 2017, the primary aim of the API has been to provide an additional efficient channel for the trading community and other interested parties to access Investors Exchange real-time quoting and trading data.
We have been humbled by the overwhelming and astonishingly positive response since that time! Our users expanded from our original broker and investor clients to a community of thousands of developers from around the world who started using our data.
We also began to respond to users’ requests by adding in third-party data such as company financials, which was supplemented by IEX Group as an additional tool for our users. The API was being used for everything from stock market research to new fintech applications. Together, we were breaking down barriers to financial data and it was like opening the floodgates to a wave of new innovation.
What we realized, though, is that the demand was much bigger than what the API was originally built for. The API currently handles billions of messages every day. And our growing developer base is asking for more – more data, specific tools, dedicated support, and computing power that can support an aggressively growing userbase.
So the team at IEX went back to the drawing board and laid out a plan to do this well – and most importantly, to do this right. We realized we need to build an industrial solution geared for developers from the ground up that can address their pain points today and far into the future. We need to invest in an infrastructure that can scale and create a sustainable business model that will let us grow and evolve alongside the needs of this developer community.
And here is our plan:
First, we will continue to provide free Investors Exchange market data, including quotes and trades on the Investors Exchange, the same way we always have. We continue to believe that exchange market data, which results from the trading activity of an exchange’s members, should be accessible to the trading community in as many formats and channels as possible. This will be available on the IEX API, and redistributed through our newly-built platform, IEX Cloud (see below).
Second, third-party data that had previously been available through the API will be sunset starting June 1. IEX Group’s contract with the third-party data provider is expiring, making this the right time to make an inevitable change. The sunset will occur in two parts (see the schedule) to provide a bit of a buffer for the transition.
Third, we are very excited that IEX Group has launched a new platform, distinct and separate from the Investors Exchange, to serve the developer community and continue to find new, better ways to help you access and use financial data.
IEX Cloud connects developers with data creators and provides custom-built tools and services to make financial data more accessible and easier to integrate into your applications. The platform provides broad access to a new, higher-quality third-party data set – including virtually all data points that were available as part of IEX’s API and completely new data sets – as well as the infrastructure and computing power to support a rapidly growing userbase.
IEX Cloud has designed flexible pricing plans around the needs of different types of developers, with the intention of making sure that everyone can find an option that works for them. By designing a reasonable, accessible pricing model (starting as low as $9/month plus a free option to get started), IEX Cloud also aims to build a sustainable business that allows us to invest in new tools and data sets so that we can continue to expand and serve the developer and data creator community for the long-term.
For users of the third-party data that has historically been available through the API, we’ve made the transition process to IEX Cloud as turnkey as possible. We created this guide to help you compare the API to Cloud and transition your projects and applications quickly and easily. We’re excited to continue working with you and working to make financial data more accessible and easier to use for all.
Please reach out to firstname.lastname@example.org with any questions about the Investors Exchange API or third-party data historically provided via IEX Group, or to email@example.com for assistance transitioning to IEX Cloud.
The IEX Group Team