Wall Street-Backed Options Exchange Kicks Off Amid Peak Volumes
- MEMX, which started in equities, is moving into options market
- The launch makes MEMX the 17th options exchange in the US
Traders work on the floor of the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
A stock exchange backed by some of Wall Street’s biggest players is making its official entry into options as investor interest in the asset class surges to all-time highs.
The Members Exchange, or MEMX, will offer options trading on its new venue starting Wednesday, bringing the total number of US options exchanges to 17. Backers of the platform include a suite of legacy financial institutions, including JPMorgan Chase & Co. and Goldman Sachs Group Inc., as well as market makers Citadel Securities and Virtu Financial Inc.