*IEX’s Fall and a Constant Business Concern* IEX facilitates electronic trading of electricity and related products. It gets a transaction fee per unit of electricity traded (₹/MWh). More the volume, more the revenue. The government is working on market coupling which refers to centralized price discovery where a single algorithm matches demand and supply across all power exchanges. IEX holds close to 90% market share in the price discovery mechanism. Market coupling will shrink its business volume, reduce its control over the mechanism and price discovery, and hurt revenues. Basically, IEX’s monopoly will be as good as gone.