Throughout the previous sections we have referred to an IX as if it has some formal 'body'. In many examples of the creation of an IX there is no formal body - the IX is run and managed by general consensus between the parties involved (often the ISPs which will benefit from the presence of an IX). 
This is probably the most efficient and easiest mechanism for a start up IX, but there are issues that arise as an IX grows that suggests that a 'free form' purely consensual based model will not scale. The 'consensual' based model can still be true when the IX has been developed from an established organisation such as a research or academic institution. Whilst the institution itself will probably have well defined management structures for its original purposes, these may not be particularly applicable to the management of an IX, and in some cases could be a drawback.
These are some of the reasons why a nascent IX should consider its formal management structure as early as possible, whatever its background. Of course, there is no one right management model, but careful consideration of the future management of the IX, rather than just allowing natural evolution to determine its course, will almost certainly assist the IX to be self-determining, remain within legal and regulatory constraints, maintain neutrality and establish financial security.