Whenever I see these IEX articles, I think it is useful to point out that they generally describe 3 types of traders: 1) Retail - you and me, who make money thr

Whenever I see these IEX articles, I think it is useful to point out that they generally describe 3 types of traders: 1) Retail - you and me, who make money through asset appreciation 2) Institutional (IEX's client-base) - big Wall Street firms, big money managers, big pensions, who make money by charging fees 3) HFT - small technology firms, who make money through trading