Options Expansion; MEMX Liquidity at NBBO and Midpoint

More Symbols and Volume in Options; Exceptional Liquidity at NBBO and Midpoint in Equities

MEMX Equities

MEMX exchange market share (excluding TRF volume) was 5.4% in November with diverse participation across tapes.

MEMX ranked first or second in time-at-NBBO in 2,396 symbols and ranked fourth or better in 6,014 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 midpoint average daily volume included 9.6 million shares of midpoint add and 14.5 million shares of midpoint IOC orders.

MEMX provides significant liquidity at midpoint in hundreds of securities. In November, 875 securities had midpoint liquidity available for more than 30% of the trading day.

MEMX Options

MEMX Options traded 43,096 average daily contracts in November, up from 16,218 in October. So far in December, the exchange is averaging over 100,000 contracts per day with diverse participation from 32 member firms.

QQQ options products were added on November 28 and six additional symbols (AAPL, AMZN, EEM, HYG, TLT, VXX) were rolled out on December 12. On November 30, QQQ products accounted for 9% of options industry volume and the new tranche accounted for 7.2% of volume. Once the new tranche is rolled out, the underlying names traded on MEMX will account for over 20% of industry volume.