MEMX Update
As we continue to make progress towards our September 4th launch, we have exciting news to share on a couple of fronts.
First, we have received FINRA approval for our routing broker-dealer, MEMX Execution Services, LLC. This is another important milestone in preparing the Members Exchange to go live as it will allow us to fulfill our Reg NMS routing obligations.
Second, we are pleased to announce the addition of Citi to our roster of investors. Although we recently closed our latest round of financing and are focused on launch, we didn’t want to pass up the opportunity to add another significant market participant to our list of supporters. We look forward to working with the Citi team and leveraging their market structure expertise.
In addition, we continue to receive great support from the trading community. MEMX is now working with more than 50 participants to onboard or connect to our market, ensuring that these firms will be prepared for day one and putting us on track to launch with a truly diverse set of liquidity.
Finally, as a reminder, our timeline is as follows:
- June 29: Platform Testing begins
- July 13: Member Certification begins
- August 1: User Acceptance Test #1
- August 15: User Acceptance Test #2
- September 4: Exchange Launch
Thank you for your continued support and we look forward to working with you as we progress towards launch and beyond.
Jonathan Kellner, CEO