At mutual fund giant Capital Group, investment managers study stocks, looking to buy when they’re underpriced and sell when they’re overpriced. Michael Lewis' 'Flash Boys' focuses on Wall Street computer scheme »After a nearly yearlong struggle for approval from the Securities and Exchange Commission, IEX today becomes a public stock exchange, like the New York Stock Exchange and Nasdaq, marking a victory for both the upstart exchange’s founders and Capital Group. Katsuyama said he ran the idea of creating a new stock exchange by Capital Group in 2011. Capital Group has not disclosed how much it invested, though Lyons said the firm owns less than 5% of IEX. The trick for Capital Group is to make those huge moves without tipping off the rest of the market.

Source: Los Angeles Times August 19, 2016 10:01 UTC