IEX Increases Lit Volume with D-Limit Order

Displayed share at IEX Group has risen from 10% to 30% of total trading volume since it introduced a new order type last year, which the exchange said has demonstrated improved execution quality. IEX Exchange fully launched its D-Limit, discretionary limit order type, on October 1 last year after receiving approval from the US Securities and Exchange Commission. According to a story in MarketsMedia news, Ronan Ryan, co-founder and president of IEX Group, said that the venue’s machine learning signal seeks to predict how the market is going to move in the next fraction of a second. D-Limit then uses the power of the IEX Signal to move an order out of the way if the price is about to become imminently stale i.e. the order avoids being “run over” when the price is unstable. Ronan added that approximately 30 brokers are using D-Limit and more are in the pipeline.