TabbFORUM report highlights MEMX Market Technology
Dec 1, 2025
A new report recently published in Tabb FORUM, Measuring What Matters: Inside the Evolution of Institutional Dark Pool Innovation, makes a compelling case for what they describe as “reliability as a foundation for innovation.”
The report states: “Every innovation depends on infrastructure that never fails. MEMX established that benchmark…as an infrastructure provider powering other venues’ innovation through its Market-as-a-Service (MaaS) technology.
“Nowhere has the issue of reliability been more evident than how MEMX provides exchange-grade reliability to venues like Blue Ocean to achieve 100% uptime without capital-intensive buildout. MEMX Technology also provides the technology infrastructure for the recently launched 24X Exchange, the first national securities exchange designed and approved for 23-hour weekday trading of U.S. equities. The utilization of MEMX’s exchange-grade technology by 24X marks MEMX Technology’s third-market center client as its Market-as-a-Service offering continues to see increased demand.”
Reliability is the #1 priority for our clients. That is a non-negotiable. 100% uptime is 100% uptime. No if, ands, or buts.
In addition, the Tabb FORUM report calls out that the value of MEMX’s MaaS model becomes clear when examining the traditional binary choice: building proprietary infrastructure (requiring $40-$50 million in initial capital plus $10-$15 million annually) or licensing existing technology (gaining efficiency but constraining differentiation).
MEMX offers innovative exchange operators what the report calls a third path—an “ATS platform that provides exchange-grade matching engine technology, dynamic capacity scaling, operational monitoring, regulatory compliance support, and continuous performance optimization, structured as partnership rather than transactional vendor relationship.”
So for MEMX Market Technology clients, the platform expands with them as their needs grow, creating a much more dynamic conversation around what their business requires.
The report goes on to explain why this approach is so valuable: “(The Market-as-a-Service model) eliminates the infrastructure trap where venues must either over-provision expensive capacity for hypothetical growth or risk hitting performance ceilings.” For many smaller institutional ATSs, proprietary infrastructure is a non-starter. MEMX helps them turn CapEx into less conscriptive OpEx, providing ready-to-deploy exchange-grade reliability so they can put their capital into innovative solutions.
When we created MEMX, we envisioned providing our breakthrough exchange technology to other market centers. It is gratifying that in such a short period of time we have been able to see this come to fruition. We look forward to expanding the universe of trading platforms able to benefit from MEMX Technology’s innovative solutions.
David Mellor, Head of Market Technology