IEX Lets Data Middlemen Cash in on New Subscriber Rebates
Published Date: 9/16/2026
Notice
Summary
Starting September 1, 2026, IEX is giving Extranet Providers a new chance to earn money by signing up new users for their real-time market data, just like Data Subscribers already do. This change means more folks who help spread IEX data can get rewarded, making it easier and more fun to grow the IEX community. If you’re involved in sharing IEX data, this update could boost your earnings!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Extranet Providers Eligible for 75% Rebate
If you are an Extranet Provider that transmits Real-Time IEX market data to Data Subscribers, you can earn an External Distribution Rebate equal to 75% of the subscription fees paid to IEX by any new Data Subscriber you enlist. The rebate begins the first full month of the new Data Subscriber's subscription.
Program Eligibility, Opt-In, and Time Limits
To qualify, an Extranet Provider must opt into the program via an updated Extranet Addendum, report monthly any new Data Subscribers, and ensure each new Data Subscriber executes the IEX Data Subscriber Agreement. Only downstream customers who were not entitled to receive Real-Time IEX market data as of July 1, 2026 are eligible; the program is operative September 1, 2026 and the rebate expires on subscription termination or August 31, 2028.
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Key Dates
Department and Agencies
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