IEX Calls Increasing Exchange Technology Fees "Unsustainable"

When Ronan Ryan, president of the IEX Exchange, looks at the current stock exchange market structure, he sees dinosaurs. He told a CFA Society Chicago luncheon audience on Tuesday that their business model of constantly increasing technology fees to show revenue growth is “unsustainable.”  Market structure experts from TABB Group and the Modern Markets initiatives, likewise, express concern but note the nuanced complexity that surrounds the issue, on the same day that the SEC chair testified before Congress.

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Speaking in front of a group of CFA Chicago members, Ryan appears more of a street...