Members Exchange wins SEC approval to take on Nasdaq and Nyse
Members Exchange (MEMX), a market operator founded by members to benefit all investors, announces today the receipt of U.S. Securities and Exchange Commission approval to operate a national securities exchange.
0
External
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Jonathan Kellner, CEO of Members Exchange, said, “We are excited to earn SEC approval in this challenging environment and appreciate the Commission’s thoughtful and timely review of our application. This achievement is the result of our team’s great diligence and represents a major step towards launching an exchange designed for all investors.”
The Members Exchange investor board added, “We congratulate the company on this important milestone and remain unified in our belief that MEMX is the right idea at the right time. We look forward to working with the company as they bring further innovation and reduced costs to the U.S. equities market.”
The company, whose application was published by the SEC on Oct. 31, 2019, continues to expect to go live in the third quarter of this year. Platform testing and member certification will begin later this quarter.