IEX Group vs Alpaca
Side-by-side comparison of AI visibility scores, market position, and capabilities
IEX Group operates the Investors Exchange, a US national securities exchange built on a 350-microsecond speed bump to protect investors from high-frequency trading, holding ~3.2% overall market share as of Q4 2025.
About
IEX Group, Inc. is the operator of the Investors Exchange (IEX), a US national securities exchange regulated by the SEC and designed around principles of fairness, transparency, and investor protection. Founded in 2012 by Brad Katsuyama—whose story was told in Michael Lewis's book Flash Boys—IEX introduced a 350-microsecond "speed bump" that neutralizes latency-based advantages exploited by high-frequency trading firms. The exchange gained national attention as an alternative to incumbent exchanges that critics argued were structured to benefit fast traders at the expense of institutional investors.
Alpaca is a self-clearing broker-dealer and global leader in brokerage infrastructure APIs for stocks, ETFs, options, and fixed income; raised $52M Series C in April 2025 totaling $170M;
About
Alpaca is a developer-first brokerage infrastructure company founded in 2015 and headquartered in San Mateo, California. It operates as a fully self-clearing broker-dealer with DTCC, Nasdaq, OCC, and FICC memberships — enabling it to provide end-to-end brokerage infrastructure for stocks, ETFs, options, fixed income, and cryptocurrency without requiring partners to manage their own clearing relationships. Alpaca's Broker API allows fintech companies, neobrokerages, robo-advisors, and wealth management platforms to embed multi-asset trading into their applications with a single integration.
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