MEMX Options makes a successful debut
Oct 12, 2023
MEMX Launches Options Exchange with Strong Firm Participation
Highlights & Recent Developments
- MEMX Options launched September 27th with 22 firms participating in the first three days
- On MEMX Equities, retail investors traded over 50 million average daily shares over the past two months
- MEMX Equities ranked #4 or better in:
- Market share in 3,460 symbols
- Time-at-NBBO in 6,501 symbols
- NBBO setting in 4,831 symbols
Equity Exchange Highlights
MEMX equity exchange market share (excluding TRF volume) was 5.2% in September. MEMX retail average daily volume increased to over 50 million shares over the past two months.
MEMX retail fill rates when limit orders were placed near the NBBO were 96% for order sizes between 100 and 9,999 shares, 94% for odd-lot sizes, and 82% for order sizes greater than 9,999 shares.
MEMX ranked #1 or #2 in market share in 437 symbols and ranked #4 or better in 3,460 symbols among 16 exchanges.
MEMX ranked #1 or #2 in time-at-NBBO in 2,795 symbols and ranked #4 or better in 6,501 symbols among 16 exchanges. This metric looks at the percentage of time each exchange is at the NBB or NBO during regular-hour trading for at least 100 displayed shares.
MEMX ranked #1 or #2 in NBBO setting in 1,374 symbols and ranked #4 or better in 4,831 symbols among 16 exchanges. This metric looks at the number of times each exchange is the first to establish a new NBB or NBO during regular-hour trading for at least 100 displayed shares.
Options Exchange Highlights
MEMX Options began a phased launch on September 27th, with trading in three options root symbols.
In the first three days:
- 22 firms participated and executed trades
- 754 trades executed
- 3,713 contracts traded
- $888,699 notional traded