By Josh Beckerman
Members Exchange, which
said last May that it had become the sixth-largest U.S. equity exchange,
will launch an options exchange, targeting a fourth-quarter debut
pending Securities and Exchange Commission approval.
MEMX was
founded in 2019. Its investors include Goldman Sachs Group Inc., Morgan
Stanley, Citigroup, Citadel Securities, Virtu Financial Inc., Charles
Schwab Corp. and BlackRock Inc.
MEMX said it will "increase determinism, reduce costs and
drive competitive improvements for our options members, just as we did
in equities."
MEMX launched in September 2020, seeking to provide
lower fees and better technology than existing exchanges. Last month,
MEMX said it would provide "top of book" and "last sale" market data to
streaming data providers for one cent per user and announced a
simplified fee schedule for other data products.
Other creators
of new exchanges in recent years include Miami International Holdings
Inc., which formed the MIAX Pearl exchange, and the Long-Term Stock
Exchange.
Miami International has been active in options trading.
MIAX Emerald, which launched in 2019, was its third fully electronic
options trading exchange.
Write to Josh Beckerman at josh.beckerman@wsj.com
Members Exchange, which
said last May that it had become the sixth-largest U.S. equity exchange,
will launch an options exchange, targeting a fourth-quarter debut
pending Securities and Exchange Commission approval.
MEMX was
founded in 2019. Its investors include Goldman Sachs Group Inc., Morgan
Stanley, Citigroup, Citadel Securities, Virtu Financial Inc., Charles
Schwab Corp. and BlackRock Inc.
MEMX said it will "increase determinism, reduce costs and
drive competitive improvements for our options members, just as we did
in equities."
MEMX launched in September 2020, seeking to provide
lower fees and better technology than existing exchanges. Last month,
MEMX said it would provide "top of book" and "last sale" market data to
streaming data providers for one cent per user and announced a
simplified fee schedule for other data products.
Other creators
of new exchanges in recent years include Miami International Holdings
Inc., which formed the MIAX Pearl exchange, and the Long-Term Stock
Exchange.
Miami International has been active in options trading.
MIAX Emerald, which launched in 2019, was its third fully electronic
options trading exchange.
Write to Josh Beckerman at josh.beckerman@wsj.com
