In recent market trends, the decline of IEX has raised eyebrows, leaving investors curious about the underlying factors. The culprit? Market coupling. Let's delve into the intricacies of this phenomenon and understand its profound impact on IEX's performance. Understanding Market Coupling: Market coupling refers to the interconnection of various energy markets, creating a unified and efficient trading system. This strategy aims to enhance liquidity, optimize pricing, and foster cross-border cooperation. However, the ripple effects of market coupling can be felt differently by individual exchanges.