NEW YORK--(BUSINESS WIRE)--IEX Group, Inc. announced two senior appointments, Joseph (Joe) Hipps and Prerak Sanghvi, to help capitalize on strategic growth opportunities outside of the company’s core stock exchange business.
Mr. Hipps was hired to develop the IEX Group’s new independent analytics business. Previously, he was Head of Client Service and Support at Trade Informatics, a provider of trading data analysis and systematic trading solutions.
“The trust and credibility IEX has earned from the institutional investor community is unparalleled, and I’m excited to help build a unique business that can assist investors and brokers in navigating extremely complicated markets,” said Mr. Hipps. “I’m looking forward to helping investors unlock the full value and potential from Big Data.”
Mr. Sanghvi, one of IEX Group’s first employees and a critical member of the technology team, was promoted to Head of Ventures Technology. In this newly-created role, he will be responsible for technology powering non-exchange ventures, including the analytics business led by Mr. Hipps. Before joining IEX, Mr. Sanghvi was the Head of Electronic Trading Technology at RBC Capital Markets.
“Our scalable, robust and resilient systems currently process over 1 billion messages per day in a heavily regulated, highly-interconnected marketplace,” said Mr. Sanghvi. “I look forward to finding new high-impact applications for our systems and using our experience building a stock exchange to develop new technology solutions in and outside of finance.”
“The credibility, expertise and technology we’ve built at IEX have the potential to transform businesses far beyond the stock exchange,” said IEX Co-Founder and President Ronan Ryan. “Joe and Prerak have the right experience and vision to expand the scope of IEX Group and execute on new ways to build fairer markets.”
Mr. Hipps started in October and reports to Mr. Ryan. Mr. Sanghvi begins his new role effective immediately and will continue to report to Rob Park, IEX Co-Founder and Chief Technology Officer.
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 exceeded 3.3% of intraday market share in U.S. equities on November 1, 2018 and averaged approximately $11 billion in U.S. equity trading per day for the month of October. IEX listed its first public company, Interactive Brokers, on October 5, 2018. Learn more at iextrading.com.
