Blue Ocean Technologies partners with MEMX to support ATS global trading platform
MEMX will serve as technology partner for the platform, with expected implementation of the technology by the end of this quarter.
MEMX will serve as technology partner for the platform, with expected implementation of the technology by the end of this quarter.
Following approval from the SEC last year, MEMX Options will offer traders passive and active risk management capabilities, building off its existing equities exchange.
Learn more about the five firms shortlisted for our Editors’ Choice Award for Best Challenger Exchange, a new category for this year: including Archax, FTX, IEX, MEMX and MIAX.
The US options exchange is expected to launch early next year.
New exchange will leverage MEMX’s data-centric exchange technology, with a target launch of Q4, subject to regulatory approval.
US equity trading hubs in Mahwah and Carteret, New Jersey will be able to access the data via Quincy Data’s raw data service.
The exchange is proposing a blanket fee of $0.01 for professional and non-professional users, subject to approval from the Securities and Exchange Commission (SEC).
According to the members exchange, the proposed changes to fees are subject to a conflict of interest and would further cement incumbent venues monopoly over market data.
As part of the agreement, MEMX will form a new cloud-based digital asset entity to consume its exchange data and then periodically share a subset of that with Pyth.
US exchange MEMX recorded six days in July where its market share exceeded 3% while it saw a dollar volume of $9.94 billion in the week of 26 July.