Their new platform promises low costs and transparency
ON JANUARY 7TH nine of America’s largest brokers and banks said they planned to launch a new equities exchange, dubbed the Members Exchange (MEMX). Though it has yet to gain approval from the Securities and Exchange Commission (SEC), the share prices of Intercontinental Exchange (ICE), Nasdaq and CBOE, the parent groups of America’s largest exchanges, fell by 2-3%. But MEMX is merely their latest reason to fret.
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