Brad Katsuyama, the hero of Michael Lewis’s high-frequency trading book “Flash Boys,” understands the stock market as well as anyone on Wall Street. IEX also said its rival exchanges inflate connectivity fees by as much as 4,200 percent. The study plays into a growing debate about whether the two main exchanges, IEX’s rivals, are abusing their position in what is essentially a regulatory-assisted oligopoly. Lots of other things the NYSE does, like price IPOs and regulate its market, do cost a lot of money. And while IEX doesn’t charge specifically for data, it charges an overall bundled fee for trading on its market.

Source: Washington Post January 31, 2019 11:08 UTC