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Buy side trading venue are going to start business

IEX Group is the latest U.S. trading platform alongside 44 other alternative trading system (ATS) and 13 stock exchanges.

IEX, which has ambitions to become an exchange, is owned exclusively by fund companies - known as the "buy-side" - and individuals, including IEX's staff, Chief Executive Brad Katsuyama said in an interview.

"We will be the first registered ATS that is owned by the buy-side, which means we are not competing with different brokers. We're more of a utility, and by definition, we can build things that are in the best interest of the buy side."

"Exchanges should be in the business of matching buyers and sellers and charging a fee for that. And the ones who do it better should get more of that flow," Katsuyama said.