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Members Exchange, the stock exchange newcomer backed by BlackRock and Wells Fargo & Co., is breaking with its peers on industry reforms. In December, the Securities and Exchange Commission announced changes to its rules that would require certain exchanges to publish some of the currently private data that clients pay to have access to. Nasdaq, the New York Stock Exchange, and Cboe Global Markets filed a lawsuit against the SEC on Friday in the Washington, D.C. Appeals Court, asking the court to prevent the rule from going through. The lawsuit said that the rule is “arbitrary”...
Traders Magazine 0 Shares Jack Miller, head of trading at Baird, expects innovation to continue in US equity markets after new exchanges launched this year, new order types were approved and the US Securities and Exchange Commission adopted plans to modernize the market data infrastructure. In September three exchanges launched in the US – Members Exchange (MEMX), MIAX Pearl Equities and Long Term Stock Exchange (LTSE) – taking the total to 16. Jack Miller, Baird Miller told Markets Media that it was impressive that the exchanges managed to launch during the pandemic and following ...