Members Exchange Receives SEC Approval to Operate U.S. Securities Exchange

Launch Remains on Track for Third Quarter 2020

NEW YORK--(BUSINESS WIRE)--Members Exchange (MEMX), a market operator founded by members to benefit all investors, announces today the receipt of U.S. Securities and Exchange Commission approval to operate a national securities exchange.

Jonathan Kellner, CEO of Members Exchange, said, “We are excited to earn SEC approval in this challenging environment and appreciate the Commission’s thoughtful and timely review of our application. This achievement is the result of our team’s great diligence and represents a major step towards launching an exchange designed for all investors.”

The Members Exchange investor board added, “We congratulate the company on this important milestone and remain unified in our belief that MEMX is the right idea at the right time. We look forward to working with the company as they bring further innovation and reduced costs to the U.S. equities market.”

The company, whose application was published by the SEC on Oct. 31, 2019, continues to expect to go live in the third quarter of this year. Platform testing and member certification will begin later this quarter. For more information, go to www.memx.com.

About MEMX:

Founded in 2019 by diverse and influential members of the global financial community, Members Exchange is an innovative and customer-centric company, focused on creating and promoting a fair, transparent, and efficient market experience for all investors. MEMX will offer a new option to investors, with a simpler platform and features that will benefit both retail and institutional investors. For more information on MEMX, please visit www.memx.com and follow @memxtrading.