• The Members Exchange

    5 monthes ago - By Crossing Wall Street

    The Wall Street Journal reports that a new exchange is being launched, the Members Exchange.
    A group of financial heavyweights including Morgan Stanley , Fidelity Investments and Citadel Securities LLC plans to launch a new low-cost stock exchange to challenge the New York Stock Exchange and Nasdaq Inc., the companies said.
    The creation of the new venue, called Members Exchange or MEMX, comes after years of frustration among Wall Street brokers and traders with the fees charged by U.S. stock exchanges.
    MEMX will be controlled by the nine banks, brokerages and high-frequency trading firms...
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  • Major Wall Street players plan exchange to challenge NYSE, Nasdaq

    5 monthes ago - By Reuters

    Morgan Stanley, Fidelity Investments, Citadel Securities LLC and a host of other financial companies plan to launch a low-cost bourse that will compete with the New York Stock Exchange and Nasdaq.
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  • A group of Wall Street firms are planning to launch an stock exchange that should ‘scare the living daylights out of NYSE and Nasdaq'

    A group of Wall Street firms are planning to launch an stock exchange that should ‘scare the living daylights out of NYSE and Nasdaq'

    5 monthes ago - By Business Insider

    A group of banks, market makers and retail brokers said on Monday they're teaming up to launch an equities exchange.
    The founding members said they're frustrated with the consolidation of power in the equities markets between three large exchange operators: Intercontinental Exchange, Nasdaq and Cboe Global Markets.
    The Member Exchange, or MEMX, will offer reduced fees for trading, connectivity and market data.
    A group of big Wall Street firms including Fidelity, Morgan Stanley and UBS announced a plan on Monday to launch a new equities exchange that will take on the New York Stock Exchange...
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