Simplicity is the ultimate form of sophistication

MEMX Timeline Update — Launch Set for September 4th

OUR MISSION

We are the Members Exchange, founded by members to represent all investors. We listen and continuously innovate to promote a fair, transparent, and efficient experience for all.

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Founded by members for investors, MEMX aims to drive simplicity, efficiency, and competition in equity markets.

OUR INVESTORS

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How are we different?

MEMX offers a simpler platform and features that will benefit both retail and institutional investors, including:

• A limited number of order types to promote simple and transparent interactions
• Investments in the best and latest technology to deliver fast and efficient execution
• Lower pricing on market data, connectivity, and transaction fees

As the only member-owned equities trading platform, MEMX will represent the interests of its founders and their collective client base, comprised of retail and institutional investors, on U.S. market structure issues.

Why now?

Competition in the marketplace brings out the best in all the participants and benefits investors. Increasing the diversity of exchanges improves overall market robustness, stability and innovation, which will ultimately result in improved operational transparency and reduced fixed costs.

Who are the founding members?

Members Exchange was founded by a group of leading global financial institutions*, comprised of:

• The largest U.S. online retail broker-dealers, which serve retail investors placing millions of orders each day
• Global banks and financial services firms, which service retail and institutional investors
• Leading global market makers, which collectively provide more than $700 million in price improvement annually to retail investors

* Bank of America Merrill Lynch, Charles Schwab, Citadel Securities, E*Trade, Fidelity, Morgan Stanley, TD Ameritrade, UBS, and Virtu Financial