Exchange Highlights: MEMX Continues to Grow Market Share and Provide Consistent and Competitive Quoting Across All NMS Stocks

Growing Market Share, Exceptional Quoting

Highlights & Recent Developments

  • In October, MEMX exchange market share (excluding TRF) grew 12% MoM, and average daily volume grew 12% MoM
  • MEMX exchange market share improved to 5.7% overall and 6.3% in ETPs
  • MEMX’s exceptional quote performance continued, hitting a new record for NBBO setting of 14.1%, a significant MoM increase
  • ETP activity grew to 24.5% of industry volume with MEMX ranking fifth in this segment

Market Share

In October, MEMX exchange market share grew 12% MoM, including overall market share of 5.7% and ETP market share of 6.3%. MEMX is focused on providing consistent and competitive quoting across all NMS stocks.

MEMX also ranked second in the number of symbols quoted over 75% of the time at the NBBO in thousands of securities (Chart 1).

MEMX ranked 3rd among all exchanges in setting the NBB or NBO, providing the most competitive quotes to the market 14.1% of the time (Chart 2). All investors benefit from competitive exchange quotes, which tighten spreads and lower trading costs.

Volume & Diversity of Liquidity

In October, ETP volume was 24.5% of industry volume, at the highest level in the past twelve months (Chart 3). MEMX traded 2,788 products, ranking fifth in ETP market share.

Chart 4 shows the 30 most-active ETPs on MEMX, including significant trading in the following categories: leveraged (TQQQ, SOXL, LABU, SPXS, SPXL), short (SQQQ, SH, PSQ, SPXU, UVXY), bond (TLT, HYG), and China (FXI, KWEB). MEMX quoted 90% of the time at the NBBO in these ETPs, on average.