The Investors Exchange (IEX) claims that it improves investor transactions in the US Equity markets. The founders of IEX suggest that other equity exchanges cater more to traders such as high-frequency and algorithmic traders, thus giving them a distinct advantage over the typical investor. We examine the immediate impact IEX had on US equity markets when it became a national exchange in mid-2016. Initial analysis supports that the IEX shows signs of meeting their intent to provide a more investor friendly exchange for those who chose to trade on it.

中文翻译：

---

投资者交易所（IEX）对投资者的影响

投资者交易所（IEX）声称，它改善了美国股票市场上的投资者交易。IEX的创始人建议，其他股票交易所更适合高频交易和算法交易者等交易者，因此给他们提供了优于典型投资者的明显优势。我们考察了IEX在2016年中期成为美国国家交易所之后对美国股票市场的直接影响。初步分析表明，IEX表现出了满足其意图的意愿，即为选择进行此交易的投资者提供更友好的投资者交易的迹象。