IEX, the startup exchange founded to combat high-frequency trading, announced a partnership Thursday with the Long-Term Stock Exchange that will offer a new method for companies to go public.
The Long-Term Stock Exchange intends to vet companies for their long-term value through the form of additional disclosures and governance requirements, according to a press release.
In a Medium post, Long-Term Stock Exchange CEO Eric Ries said that the exchange exists to “provide a public market option for companies who believe ... that vision and value should be measured over the long term.”
While the exchange intends to list companies on its own, it’s partnering with IEX to get to market quicker.
“We think LTSE offers a differentiated choice for companies, and will add to much needed competition in the listings market,” said Brad Katsuyama, IEX co-founder and CEO. “IEX was built to protect and serve both companies and investors by offering a fairer option.”
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