(Reuters) - The Members Exchange (MEMX), a new bourse backed by major Wall Street firms as a potential rival to the New York Stock Exchange and the Nasdaq (O:NDAQ), is set to launch on Monday, the Wall Street Journal reported https://
The exchange, which is expected to execute its first trades at 7 a.m. ET, will initially handle trades in seven stocks, including Google-parent Alphabet Inc (O:GOOGL) and Exxon Mobil Corp (N:XOM), according to the report.
MEMX, which will look to compete against the NYSE and Nasdaq through lower fees, postponed its scheduled launch on July 24 due to the COVID-19 pandemic.
Goldman Sachs Group (N:GS), JPMorgan Chase & Co (N:JPM) and BlackRock Inc (N:BLK) are some of the backers of MEMX.
MEMX did not immediately respond to a Reuters request for comment.