Company’s first non-exchange business aimed beyond traders
Last Wednesday, May 22, IEX unveiled “IEX Cloud,” a flexible financial data platform connecting a wide array of developers with curated financial data. The platform offers a high-performance application programming interface (API) and custom-built services to help users build, launch, and scale their models, products, and businesses.
Task Force member Brad Katsuyama, who is IEX Group’s co-founder and CEO, positioned the launch of IEX Cloud within the company’s animating principles of transparency and fairness. “We believe that enhancing the public’s understanding of, and access to, financial data makes the markets better and stronger,” he said. “It all started with IEX Group’s philosophy on market data. With IEX Cloud, we’re expanding to serve everyone from students and researchers to web developers and business leaders. We are empowering them to learn and innovate through affordable access to financial data, including IEX’s exchange market data, which will be redistributed free of charge .”
IEX Cloud is an independent business separate from IEX Group’s flagship stock exchange. Developers use IEX Cloud to access curated financial data, including fundamentals, news, U.S. and international equities, mutual funds, options, and alternative data. The platform also provides developer tools and services starting with event-driven, automated alerts designed to help users launch quickly and scale easily.
IEX Cloud also supports data creators and helps them reach a global developer audience. The platform makes it simple to get started and begin delivering data, and there are no costs to integrate. Since launching first as an invitation-only beta earlier this year, IEX Cloud has experienced strong organic uptake with developers. Already, the platform is approaching nearly 10,000 users, including both organizations and individuals, in over 100 countries.
“IEX Cloud is a game-changer for CommonStock and a cornerstone of our investment group-chat platform” said David McDonough, CommonStock’s CEO and one of IEX Cloud’s beta customers. “Before IEX Cloud, we spent ten times the money and ten times the effort wrangling a haphazard mess of APIs. IEX Cloud lets us focus on building features that delight our users, making CommonStock the most powerful place to find, share and discuss the world’s investment knowledge.”
The platform offers four flexible plans aligned with the needs of different-sized developer audiences, including students and individuals as well as developers supporting enterprise products. This includes a free “Start” plan as well as enhanced options starting at $9 per month.
“In my previous role as a developer, my team experienced first-hand the barriers to accessing and using financial data, from the expense to complex legal agreements and restrictive terms. That experience is what prompted us to build a better solution,” said Head of IEX Cloud Joshua Blackburn. “The demand we’ve seen for IEX Cloud so far demonstrates the need for a platform that allows developers to access the data and tools they need, all in one place, and through a flexible business model.”
News coverage about the IEX Cloud launch here.
For more information and to try out IEX Cloud, please visit iexcloud.io. Users of existing APIs offered by IEX Group and its subsidiaries can find important information regarding transitioning to IEX Cloud here. Data creators interested in integrating with IEX Cloud should reach out to [email protected].