May Market Update

Welcoming Our New Head of Market Structure 

We’re pleased to welcome Adrian Griffiths to MEMX as Head of Market Structure. Adrian will serve as a dedicated resource to help develop MEMX’s viewpoints on market structure and amplify our voice on issues important to the exchange and our members. Adrian’s areas of focus include: 

  • Working with our members on key market structure initiatives 
  • Representing MEMX and our members at various industry events
  • Participating in our engagement efforts with policy makers and regulators

Adrian has deep experience in the exchange space, most recently as Assistant General Counsel at Cboe Global Markets. Previously, he was a Senior Associate General Counsel at Nasdaq. 

Adrian is a great addition to our team, and I look forward to expanding our growing abilities and influence in market structure conversations and initiatives with his contributions. 

Market Structure Developments

The third GameStop hearing was another “must watch” event for many market participants, and the recent confirmation of SEC Chair Gary Gensler coincides with increased debate over whether we need to revisit various aspects of how we regulate our equities capital markets. Given the high level of engagement on market structure issues, we feel especially fortunate to have Adrian join the team at this time!

One of MEMX’s goals is to drive innovation, and we are supportive of examining whether the guard rails of our markets are keeping pace with evolutions in participant behaviors. While we continue to believe our capital markets are incredibly well regulated, healthy, and robust, we certainly welcome dialogue aimed at ensuring our regulations are keeping pace with broader technological innovations.  

Our members have unique insights and perspectives gleaned from their interactions in the market. We look forward to continuing to discuss with them how any potential change could impact the ecosystem. MEMX’s commitment to driving awareness for the practical implications of market structure changes on participants is one of the most critical ways in which we provide a voice for our members.

Building Momentum

MEMX continues to be the fastest growing U.S. equities exchange with a streak of record-breaking growth:

  • May 4th executed highest level of shares for the year – just under 300 million
  • May 10th traded all-time high of 7,343 symbols
  • May 11th traded all-time high of 7.91 billion dollars  

It was just over six months ago that we started trading the full slate of NMS symbols – and we couldn’t be more excited with how far we’ve come in such a short period of time. Our growth is a testament to participants desire for an exchange focused on fostering innovation and competition.  I am thankful to our amazing team of employees and members for their ongoing commitment, engagement, and support of MEMX.