# 2025-10975: IEX Offers Free Peek at Real-Time Market Data

2025-10975, Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Free Trial Program for Real-Time Exchange Market Data Products, is a Federal Register notice from Securities and Exchange Commission published 2025-06-17, effective 2025-06-06; PRIA reads it as touching household money (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-10975
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-10975
- Title: Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Adopt a Free Trial Program for Real-Time Exchange Market Data Products
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 25694
- Published: 2025-06-17
- Effective: 2025-06-06
- Comments close: not stated
- Significant: no
- Touches household money: yes
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

IEX Offers Free Peek at Real-Time Market Data

## Summary

Investors Exchange (IEX) is rolling out a free 30-day trial for their real-time market data products, letting users test the info before paying. They’re also cleaning up their fee schedule by removing outdated notes. This change kicks in right away, making it easier and risk-free for traders and investors to explore IEX’s data.

## Effects PRIA read

- 30-Day Free Trial for TOPS and DEEP: benefit, medium. IEX will offer a one-time free trial of up to 30 days for Real-Time TOPS and/or DEEP to any first-time recipient. Real-Time is defined as data accessed, used, or distributed less than 15 minutes after it was made available; current monthly fees are $500 for Real-Time TOPS and $2,500 for Real-Time D…
- Connectivity Fee and Trial Start Timing: cost, low. If you obtain a free trial directly from IEX and have no existing connectivity, you must establish a connection and pay the monthly connectivity fee (the free trial does not cover connectivity). Trials obtained directly from the Exchange start two business days after full execution of the Data Subs…
- Who Is Ineligible for the Free Trial: cost, low. Certain recipients are not eligible for the free trial: internal users at any Data Subscriber, affiliates of any Data Subscriber, non-affiliated entities that receive IEX data via Controlled Distribution (Controlled Data Recipients), and products already offered free (DEEP+, DROP, HIST, and Delayed…

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## Sources
- [2025-10975 on federalregister.gov](https://www.federalregister.gov/documents/2025/06/17/2025-10975/self-regulatory-organizations-investors-exchange-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2025-10975 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-06-17/pdf/2025-10975.pdf)

## Related
- [Previous: 2025-10974, Self-Regulatory Organizations; MIAX PEARL, LLC; Notice of Filing and Immediate…](https://policyrisk.com/federal-register/2025-10974)
- [Next: 2025-10976, Self-Regulatory Organizations; MEMX LLC; Notice of Filing and Immediate Effecti…](https://policyrisk.com/federal-register/2025-10976)
- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-10975 (as of 2026-06-08).