MEMX, a market operator founded by a diverse group of participants to benefit all investors, is to launch a US options exchange.

MEMX, a market operator founded by a diverse group of participants to benefit all investors, is to launch a US options exchange.

MEMX Options will adopt a price-time model and is targeting a Q4 launch, pending SEC approval.

Since launching in the fall of 2020, MEMX has quickly grown to over 4 per cent market share and has become a significant source for liquidity in US cash equities. In addition, MEMX has proposed a series of common-sense equity market structure proposals, such as round lot and tick size reform. Recently, the exchange unveiled significantly lower pricing for its market data products than comparable products at competing exchanges.