U.S. registered broker-dealers are eligible to become Members of Investors Exchange LLC (the "Exchange" or "IEX Exchange"), subject to the requirements of Chapter 2 of the Exchange Rule Book. Broker-dealers must be a member of another Self-Regulatory Organization (SRO) and maintain an active clearing relationship with an NSCC member clearing firm who is also a Member of the Exchange.
No, the Exchange does not charge an application or Membership fee.
Our team requires a completed set of application materials to determine your firm's eligibility for membership to the Exchange. Market Operations are available to review your firm’s specific needs and provide step-by-step guidance about how to start trading at the Exchange.
Firm is a registered broker-dealer
No, your firm is not required to be a FINRA member in order to apply for Exchange Membership. However, the Exchange may require extra documentation from non-FINRA applicants.
Supplemental Member Application Materials Checklist (Non-FINRA firms)
Yes. Please email your completed application materials to Market Operations.
When a firm is approved as a Member of the Exchange, all persons associated with the firm that are registered in categories recognized by IEX Exchange (see IEX Rule 2.160(n)) must be registered with IEX Exchange in the FINRA Central Registration Depository (CRD) by submitting updated U4s for each individual to CRD.
Market Operations will provide confirmation via email when a decision has been rendered.