I’m happy to announce that on Thursday, October 29, we will go live in all NMS names and conclude our launch process.
Over the past month, we have methodically added new securities to both broaden the types of interactions on our platform and ensure that the system is working as designed. As of today, 541 symbols are trading on MEMX with consistent participation from a diverse group of member firms.
We are encouraged by the fact that MEMX is at the National Best Bid and Offer (NBBO) over two thirds of the time in our fifty most active names, but recognize it is too early to draw any conclusions. We look forward to having the entire universe of NMS names live on our platform and will continue to optimize system determinism and performance as we transition into the next phase of our operations.
The feedback we have received from members during our launch has been incredibly helpful. This type of ongoing engagement is key to our ability to build an exchange that meets the needs of all investors, while remaining true to our mission to bring competition to fees, innovate via technology and provide a voice for members and their clients. The team at MEMX appreciates the support we have received throughout our launch process – we are just getting started on the journey to deliver positive change to the markets!