A new U.S. stock exchange threatens to upset the status quo

Global Markets Stocks and Indexes
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Finance Magnates article

Excerpts

  • Nine companies are forming a new equities exchange: MEMX, or the Members Exchange.
    The project is headed by several broker-dealers, banks, and high-frequency trading firms.
    The companies are Bank of America Merrill Lynch, Charles Schwab, Citadel Securities, E*TRADE, Fidelity Investments, Morgan Stanley, TD Ameritrade, UBS and Virtu Financial.

  • …two of the nine companies which are the founding members of the new exchange are generating massive volumes. Virtu and Citadel combined are responsible for more than two-thirds of total stock market trading volumes in the US.

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Competition is a good thing by providing a choice.

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What a behemoth of a company. Really interesting company and backstory, even if just from Wikipedia.