NEW YORK--(BUSINESS WIRE)--IEX Group, Inc., which operates the Investors Exchange (IEX), announced that it had promoted Dr. Elaine Wah to Head of Quantitative Research.
The new Quantitative Research team brings together the exchange’s Market Quality and Quantitative Strategy functions onto one team that will be responsible for developing innovative, data-driven approaches to researching and improving the dynamics of trading both on IEX and more broadly.
Dr. Wah has led Market Quality since 2016, overseeing market structure research as well as real-time and historical analysis of trading activity on the exchange. Since joining IEX, Dr. Wah has also co-authored two papers that used publicly-available data to examine the quality of trading across exchanges, “A Comparison of Execution Quality across U.S. Stock Exchanges” and “Gone in Sixty Seconds: The Cost of Trading in Long Queues.”
The Quantitative Strategy team, which contributed to the development of IEX’s “Crumbling Quote Indicator” (i.e., the “CQI” or “IEX Signal”), was previously led by Daniel Aisen, who is departing IEX to pursue new ventures. The new Quantitative Research team will continue to enhance the CQI and develop new products to protect investors and improve the quality of trading on IEX.
“I am very excited to unite the talent and expertise of our market quality and quantitative strategy teams under Elaine,” said IEX Chief Strategy Officer Eric Stockland. “She has a deep and incisive understanding of market dynamics, and I am certain that her leadership of the team will spark new innovations at IEX. We also want to take this time to thank Dan for his contributions to IEX. He has left his mark on the exchange at the deepest levels, and we look forward to seeing what he does next.”
“The complex microstructure of the market today allows the fastest participants in the market to profit at the expense of everyday investors,” said Dr. Wah. “Our mandate on the Quantitative Research team is to flip that script and use deep quantitative analysis to build fairer markets for everyone.”
Prior to joining IEX, Dr. Wah had roles at the SEC’s Division of Economic and Risk Analysis and Microsoft Research New York City. She holds a Ph.D. in Computer Science & Engineering with a specialization in artificial intelligence from the University of Michigan. Dr. Wah begins her new role effective immediately and reports to Mr. Stockland.
About IEX Group, Inc.
IEX Group is on a mission to build fairer markets. Founded in 2012 and headquartered in New York City, IEX Group introduced its first trading venue in 2013 and launched the Investors Exchange (IEX), an independent U.S. stock exchange, in 2016. IEX listed its first public company, Interactive Brokers, on October 5, 2018. Learn more at iextrading.com.