NEW YORK, (PRWEB) October 02, 2015 -- IEX, the first equity trading venue seeded by a consortium of buy-side investors, including mutual funds, hedge funds and family offices, will host Block Day on Thursday, Oct. 15, 2015 with all funds generated going to support MDA’s Wings Over Wall Street, the largest charitable gala benefiting finding a cure for Amyotrophic Lateral Sclerosis (ALS), most commonly known as Lou Gehrig’s Disease.
"Growing up, my mother encouraged my sisters and me to spend many of our weekends raising money for the Muscular Dystrophy Association. My mother later succumbed to ALS, but not before gifting me with a lifelong sense of purpose,” said John Schwall, COO and Co-Founder of IEX. “I'm honored to serve as 2015 Co-Chair for Wings Over Wall Street, the preeminent event for raising awareness and support to find a cure for ALS."
In support of John’s personal connection to the fight against ALS, IEX will host this day of block trading. IEX will give away all revenues associated with block trades on its venue. Block trades are defined as trades of at least 10,000 shares or notional value of at least $200,000 (which typically represents 10-12% of IEX volume). To ensure that MDA receives any incremental revenue on IEX related to this event, IEX will also donate all non-block revenue from Block Day in excess of the trailing 5-day average.
To promote IEX Block Day and to rally street support, Jon “DRJ” Najarian, CNBC Market Analyst and Wings Committee member will be broadcasting live from the floor of IEX on the day of the event. Mr. Najarian will also be honored with the Michael P. Beier Award at the Wings gala, on Oct. 22.
"We are proud to support John's commitment to MDA and fighting ALS. We are honored to host IEX Block Day as a way for IEX and our supporters to get behind such an important cause." said Brad Katsuyama, IEX CEO and Co-Founder.
Investment firms can trade on IEX via 170 broker dealer firms – which includes all of the bulge bracket banks – broadening the financial community’s ability to participate in the event.
About MDA’s Wings Over Wall Street
MDA’s Wings Over Wall Street is an annual cocktail benefit to fund research to cure Amyotrophic Lateral Sclerosis (ALS), more commonly known as Lou Gehrig’s disease. This event, now in its 15th year, has raised more than $10.7 million for MDA’s ALS Division Research Grants Program, including the distinguished teams at The Eleanor and Lou Gehrig MDA/ALS Research Center at Columbia and The Packard Center for ALS Research at Johns Hopkins. This year’s gala will take place on Thursday, Oct. 22, 2015 at The Lighthouse, Chelsea Piers.
Click here for ticket and sponsorship information.
The Muscular Dystrophy Association is the world’s leading nonprofit health agency dedicated to saving and improving the lives of people with muscle disease, including muscular dystrophy, amyotrophic lateral sclerosis (ALS) and other neuromuscular diseases. It does so by funding worldwide research to find treatments and cures; by providing comprehensive health care services and support to MDA families nationwide; and by rallying communities to fight back through advocacy, fundraising and local engagement. Visit mda.org and follow us at facebook.com/MDAnational and @MDAnews. Learn more about MDA's mission by watching this video.
- MDA -
Aria Grillo, Muscular Dystrophy Association, +1 (312) 260-5923, [email protected]