New customer priority, pro-rata exchange expands MEMX Group’s options offering and provides market participants with additional ways to source liquidity
MEMX Group, a technology-driven exchange operator founded by members to benefit all investors, announced the successful launch and first day of trading on MX2 Options, its new customer priority, pro-rata options exchange.
MX2 Options expands MEMX Group’s options trading capabilities by providing market participants with access to a customer priority, pro-rata allocation model, enabling a size-based approach to order execution and providing additional ways to source liquidity. The exchange operates on the same high-performance infrastructure that powers MEMX Group’s existing equity and options exchanges, providing members with the speed, reliability and transparency they have come to expect from MEMX Group.
On its first day of trading, MX2 Options successfully traded over 1,500 contracts across 10 symbols with participation from 19 member firms. Following initial launch, MEMX Group plans to gradually expand the number of symbols available for trading on MX2 Options over the next few weeks.
“The successful launch of MX2 Options marks an important milestone for MEMX and reflects the tremendous work of our team and the support shown to us from our members and the broader options community,” said MEMX Group CEO Jonathan Kellner. “From the outset, our goal has been to build markets around the needs of participants. By adding a customer priority, pro-rata model alongside our existing price-time options exchange, we can serve an even broader range of trading strategies and provide market participants with greater choice in how they provide and access liquidity.”
The launch follows extensive industry testing and collaboration in preparation for MX2 Options going live. The addition of MX2 further advances MEMX Group’s commitment to fostering competition and delivering flexible, innovative solutions designed around the evolving needs of market participants.
MX2 Options’ launch marks continued momentum for MEMX following news of the combination with BOX, a hybrid US equity options market with both electronic and floor-based trading. The move indicates MEMX’s commitment to providing enhanced customer functionality through strategic diversification and expansion.
Source: MEMX Group
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