Download
HTML Embed
HTML EMBED
Click to Copy

Latest Episodes

Download
HTML Embed
HTML EMBED
Click to Copy
Corner Office from Marketplace
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Tech
Download
HTML Embed
HTML EMBED
Click to Copy
Download
HTML Embed
HTML EMBED
Click to Copy
Make Me Smart with Kai and Molly
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
Download
HTML Embed
HTML EMBED
Click to Copy
Marketplace Morning Report
The Source Code

The Source Code: Brad Katsuyama

Molly Wood Sep 19, 2018
Share Now on:
HTML EMBED:
COPY
IEX Group President and CEO Bradley Katsuyama, right, and Notre Dame finance professor Robert Battalio prepare to testify before the Senate Homeland Security and Governmental Affairs Investigations Subcommittee about high-speed stock trading in 2014.
Chip Somodevilla/Getty Images

When the financial crisis of 2008 hit, Brad Katsuyama worked on Wall Street as an investor for the Royal Bank of Canada. For some time, he’d noticed odd trends in the way his trades were executed and traced the cause back to the growing influence of high-frequency trading and its growing influence on the stock market. Looking for ways to counter the influence of HFT, he and his partners created IEX, Investors Exchange, in 2012. By using a speed bump that slows down the the flow of stock market data by a fraction of a second, IEX seeks to neutralize what Katsuyama considers negative effects of HFT for long-term investors. In a sit-down interview at the offices of IEX in New York, Molly Wood and Brad Katsuyama talked about the mission and mechanics of the exchange, as well as what it’s up against in its efforts to change trading and exchanges. (Since this interview was conducted in June 2018, IEX has gained its first company listing, a firm called Interactive Brokers.)

Click the audio player above to hear the entire interview, part of  The Source Code

 

If you’re a member of your local public radio station, we thank you — because your support helps those stations keep programs like Marketplace on the air.  But for Marketplace to continue to grow, we need additional investment from those who care most about what we do: superfans like you.

Your donation — as little as $5 — helps us create more content that matters to you and your community, and to reach more people where they are – whether that’s radio, podcasts or online.

When you contribute directly to Marketplace, you become a partner in that mission: someone who understands that when we all get smarter, everybody wins.

Make a good investment!

Looking for a great deal?
Get ALL THREE of our new thank-you gifts when you donate $120.

This is a limited time offer – so act soon!