IEX Extends External Distribution Rebate to Extranet Providers

On August 31, 2026, Investors Exchange LLC filed a proposed rule change (Release No. 34-106341; File No. SR-IEX-2026-29) that amends the IEX Fee Schedule under IEX Rules 15.110(a) and (c). The amendment is effective upon filing and will be operative beginning September 1, 2026, as required by 15 U.S.C. 78s(b)(3)(A)(ii). The notice is published in the Federal Register (FR Doc No: 2026-18930).

The change makes Extranet Providers eligible to receive the External Distribution Rebate, which equals 75% of the subscription fees paid by new External Data Subscribers for any Real-Time IEX market-data product, including DEEP+, DEEP, and TOPS. The rebate applies to subscriptions that begin after July 1, 2026, and expires on the earlier of the subscriber's termination or August 31, 2028.

Extranet Providers, defined under Rule 11.130(e), are non-member entities that obtain authorized access to IEX via a Connectivity Services Agreement and the Extranet Addendum. Although they do not sign the IEX Data Subscriber Agreement, they now may earn the rebate in the same manner as Data Subscribers.

To qualify, a Data Subscriber must opt into the program through an updated Exhibit A (Data Request Form) to the IEX Data Subscriber Agreement, and each new External Data Subscriber must execute the IEX Data Subscriber Agreement. Participants must report new External Data Subscribers to IEX on a monthly basis.

The proposed amendment and supporting materials are available on the IEX website at https://www.iexexchange.io/resources/regulation/rule-filings and at the Exchange's principal office.