Wall Street-backed MEMX to launch options exchange – Reuters.com

Wall Street-backed MEMX to launch options exchange – Reuters.com

NEW YORK, March 15 (Reuters) - Members Exchange (MEMX), the fastest growing U.S. stock exchange, said on Tuesday it plans to launch an options exchange in the fourth quarter, pending regulatory approval, that will seek to reduce industry costs.

MEMX, which counts some of Wall Streets biggest firms among its investors, including BlackRock Inc (BLK.N), Goldman Sachs Group Inc (GS.N) and JPMorgan Chase (JPM.N), launched its stock exchange in September 2020, to address an intense debate over fees between large exchange operators and their customers.

Taking an aggressive approach to pricing, MEMX has gained more than 4% market share, surpassing the volume of some exchanges run by Intercontinental Exchange Inc's (ICE.N) New York Stock Exchange, Nasdaq Inc (NDAQ.O), and Cboe Global Markets (CBOE.Z).