IEX appoints ex-Cboe Digital president John Palmer

IEX has announced the appointment of John Palmer to focus on leveraging the strengths of IEX’s core system and technology to develop new markets and expand its product innovations to create more value for IEX customers.


With the role of “New Market Expansion”, according to his Linkedin profile, John Palmer will leverage his expertise across multi-asset exchange trading, derivative pricing models for equities, and leading data technology integrations that create stakeholder value.

John Palmer joins IEX after role as President of Cboe Digital

The appointment of John Palmer follows Cboe’s recent decision to close Cboe Digital and fully integrate its digital asset derivatives into its existing Global Derivatives and Clearing businesses. At the time, it was announced that, as part of the transition, John Palmer would become Head of U.S. Derivatives Market Development, under the leadership of Cathy Clay, EVP, Head of Global Derivatives.

John Palmer joins IEX after holding numerous leadership positions at Cboe Global Markets, most recently as President of Cboe Digital, overseeing the development of digital asset trading platforms and services. He previously held roles leading business and product strategy for Cboe’s Options and Futures businesses. He briefly worked at CrossTower as Global Head of Product Strategy, responsible for the digital exchange’s product roadmap, go-to-market strategy, and competitive positioning,


Bryan Harkins, President of IEX Group, said: “I have seen firsthand John’s experience across a number of asset classes. We are excited to have him on our team as we execute growth plans and continue to bring our unique and innovative solutions to all market participants.”

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“IEX is renowned for its innovation and unique approach to addressing customer challenges. I am excited to join the team and help drive IEX’s growth strategies forward,” said John Palmer.

Founded in 2012, IEX operates a portfolio of Exchange, Digital Assets, and Technology businesses, having launched a new kind of securities exchange in 2016 that combines a transparent business model with innovative design to better protect investors and level the playing field.


IEX Exchange has been aiming to draw in more business from retail investors, and in the process, the upstart trading platform convened regular meetings with many brokerages. The exchange operator, which was the subject of Michael Lewis’ 2014 book “Flash Boys”, obtained SEC’s approval to register as the 13th national securities exchange earlier in June 2016.

Unlike other exchanges, the heart of IEX’s strategy is based on what the firm calls a ‘speed bump’ which slows down trading, requiring all trades to go past by 350 microseconds in a bid to prevent high-frequency traders from racing ahead of slower investors to take advantages of changes in bids and offers before they update.

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