MEMX, a technology-driven exchange operator founded by members to benefit all investors is proud to provide the technology behind 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.

MEMX Technology was launched a few short years ago, offering the trading community the first customizable, multi-asset-class, end-to-end, market technology solution. It was purpose built with a unique market as a service model so that clients no longer have to take on the costly and time-intensive requirements that come along with launching or scaling an exchange with dedicated software and infrastructure. Instead, through its partnerships, MEMX Technology steps into that role and creates a managed platform that uses its own proven, breakthrough technology.

“The successful launch of 24X National Exchange using MEMX exchange technology marks another milestone for our market technology business,” said MEMX’s Head of Market Technology David Mellor. “Our market as a service offering has proven to be a compelling offer, generating strong demand on a global scale. We look forward to expanding the universe of trading platforms able to benefit from MEMX Technology’s innovative solutions.”

“When we created MEMX, we envisioned providing our breakthrough exchange technology to other market centers,” said Jonathan Kellner, MEMX CEO. “It is gratifying that in such a short period of time we have been able to see this come to fruition. As a third market technology client commences live operations, I am confident that David and his team will continue to aggressively expand this segment of our business.”

Paul Adcock, Head of Equities at 24X National Exchange, “With the help of MEMX Technology, we have been able to build our global platform, the first to offer 23-hour weekday trading of U.S. equities, into a high-performance system. We look forward to working together to continue to enhance the experience of the trading community.”

MEMX Market Technology now powers five market centers, providing clients with access to MEMX’s proven high-performance, low latency, deterministic platform. MEMX’s technology is product agnostic, decoupling transaction, data and messaging from any asset class specific schemas or logic while allowing for multiple market sessions.

Source: MEMX