Flexible Ethernet (FlexE) is an emerging Layer 1.5 technology that enables flexible and programmable Ethernet operation. It decouples dependencies between the MAC and PHY layers, allowing Ethernet PHY layer speed virtualization. FlexE aggregates and virtualizes the capacity of multiple Ethernet PHYs to support flexible MAC client rates and more efficient utilization of bandwidth. It provides capabilities like bonding, sub-rating, and channelization to allocate PHY resources among multiple MAC clients. FlexE was standardized by the OIF in 2016 to address the increasing diversity of Ethernet speeds needed by applications and the need for more flexible bandwidth allocation.