MEMX to Charge for Market Data02.10.2022
MEMX, a market operator founded by a diverse group of participants to benefit all investors, announced new proposed pricing for the exchange’s real-time equities market data, pending filing with the Securities and Exchange Commission.
After rapidly growing to over 4% market share in its first 16 months of operation, MEMX is now a meaningful source of price discovery for US equities and will be the first stock exchange to make real-time market data available to both professional and non-professional customers at the same low price of $.01.
“Our new fee schedule is an example of how we are working to improve upon the exchange experience for all participants,” said CEO Jonathan Kellner. “By introducing one low price for both professional and non-professional consumers, we hope to democratize access to our market data and minimize the friction for retail brokers associated with categorizing investors and how they are using stock exchange data.”
Kellner continued, “MEMX is committed to providing our members with ongoing transparency around the costs associated with producing our exchange products and services. Our proposed fee schedule gives investors the opportunity to compare and contrast MEMX’s fees with other trading venues. We are excited that MEMX’s operational efficiencies allow us to pass meaningful savings along to the industry in the form of significantly lower market data fees. This is just one of the ways in which MEMX is creating positive change for investors through competition with the incumbent exchanges.”
In addition to providing “top of book” and “last sale” market data to streaming data providers for only one penny per user, MEMX announced a simplified fee schedule for a variety of other market data products that are significantly less expensive than other equities exchange operators. To see the entire proposed MEMX market data fees, please visit https://info.memxtrading.com
MEMX in its first year of operation grew to be the largest independent exchange with the sixth largest market share of the sixteen U.S. equity exchanges. The exchange commenced trading on September 21, 2020. Since January of 2021, MEMX’s market share has grown 19% on average month over month. The exchange trades more than 7,500 symbols and continuously quotes at the best market prices in thousands of securities throughout much of the day.
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