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New Wall Street-backed stock exchange MEMX to launch on September 4

Published 28/05/2020, 22:27
© Reuters.
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NEW YORK (Reuters) - The Members Exchange (MEMX), a new bourse that aims to take on the New York Stock Exchange and Nasdaq Inc (O:NDAQ), and is backed by financial heavyweights including Bank of America Corp (N:BAC) and BlackRock Inc (N:BLK), said on Thursday it will launch on Sept. 4.

MEMX, which was founded by many of the biggest customers of Intercontinental Exchange Inc's (N:ICE) NYSE and Nasdaq, has raised $135 million since it was founded in January 2019 to challenge what those firms saw as excessive exchange fees for trading and related services such as market data.

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