NEW YORK--(BUSINESS WIRE)--MEMX, a market operator founded by members to benefit all investors, today announced the successful completion of a strategic equity round of funding led by Optiver, a leading global market maker, to support the launch of MEMX Options in August. Optiver assumes a MEMX board seat as part of the transaction. Additional firms participating in the round include new investors Belvedere Strategic Capital, LP, Chicago Trading Company, and IMC, as well as existing investors Citadel Securities and Virtu Financial.
The creation of MEMX Options was driven by marketplace interest to extend MEMX’s proven success and member-aligned market model to the options community. MEMX will create an Options Market Structure Committee to help drive member focused improvements and advise on the ongoing evolution of the US Options market.
“We are delighted to see excitement building for the launch of MEMX Options,” said Jonathan Kellner, MEMX CEO. “Our new strategic investors will provide further expertise to our options offering as we prepare for our August launch.”
"With this investment, we are proud to contribute to a US options market structure that will boost competition, drive innovation, and improve outcomes for all investors," said Rutger Brinkhuis, CEO of Optiver US. "When launched, MEMX Options will represent a promising addition to the US trading landscape, offering options investors the benefits of a model designed specifically with market participants in mind.”
Since launching in the fall of 2020, MEMX has quickly grown to become the largest independent U.S. equities exchange and a significant source for liquidity in cash equities. MEMX is the only exchange founded to represent the needs of market participants, and expanding into options will allow MEMX to provide meaningful benefits to a broader range of investors.
The MEMX investor group includes Bank of America, Belvedere Strategic Capital, LP, BlackRock, Charles Schwab, Chicago Trading Company, Citadel Securities, Citi, E*Trade, Fidelity Investments, Flow Traders, Goldman Sachs, IMC, J.P. Morgan, Jane Street, Manikay Partners, Morgan Stanley, Optiver, TD Ameritrade, UBS, Virtu Financial, Wells Fargo, and Williams Trading.
Broadhaven Capital Partners served as MEMX's exclusive financial advisor in this transaction.
MEMX is a technology-driven exchange operator providing its members and the global investment community with a simpler, less costly, and more transparent way to access liquidity. The firm currently operates a U.S. equities exchange, and in 2023, MEMX will launch a US options exchange. MEMX also provides exchange technology and services to clients, including EDX Markets and Dream Exchange. Founded in 2019 by a diverse group of financial firms, MEMX’s mission is to create healthy competition and advocate for market structure reform that results in more efficient and sensible trading experiences for all investors.