Regulation

Circulars

Information circulars provide important details about regulatory, product, and general matters on IEX Exchange.

Governance Documents

FINRA Rules Incorporated by Reference

Rule 605 Reports

The SEC's rule mandating public disclosure of order execution practices, Rule 605 (formerly SEC Rule 11Ac1-5), requires that market centers which trade national market system securities disclose monthly electronic reports about the quality of their executions on a stock-by-stock basis based on the previous month's trading activity.

Clearly Erroneous Rule

Business Continuity

IEX Exchange has developed a Business Continuity Plan ("BCP" or the "Plan") detailing how IEX Exchange will address the possibility of a future Significant Business Disruption ("SBD") and respond to events of a varying scope which may impact IEX Exchange's business. Since the timing and impact of disasters and disruptions is unpredictable, IEX Exchange will have to be flexible in responding to actual events as they occur. With that in mind, IEX Exchange is providing you with this information regarding its Plan.

NMS Plans

IEX Exchange, along with other U.S. exchanges and FINRA, is a party to several NMS Plans which govern various aspects of equity market structure.

Disciplinary Actions

FINRA, on behalf of IEX Exchange, investigates potential violations of IEX Exchange rules and the federal securities laws and, when appropriate, brings formal disciplinary action against members and their associated persons.

Regulatory Independence & Confidentiality Policy Overview

Overview of IEX Exchange’s internal regulatory independence and confidentiality policy.

Tick Size Pilot Program

On May 6, 2015, the Securities & Exchange Commission ("SEC") issued an order approving the National Market System ("NMS") Plan to implement a Tick Size Pilot Program by the National Securities Exchanges and FINRA. The Order approved the NMS Plan for a two-year period and officially commenced on October 3, 2016. The Tick Size Pilot was a data-driven test to evaluate whether or not widening the tick size for securities of smaller capitalization companies would impact trading, liquidity, and market quality of those securities. The pilot consisted of a control group and three test groups, with each test group having approximately 400 securities.
On March 29, 2019, the data collection requirements under the National Market System Plan to implement a Tick Size Pilot Program came to an end. As a result, a blank Tick Pilot Securities List will be produced on a daily basis, and the Tick Pilot Changes List has been updated to show the deletion of securities from the Tick Size Pilot Securities List.

Listings

There are no issuers currently listed on IEX Exchange. For any questions about historical listing information, please contact IEX Regulation.