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Members Exchange Low-Cost Exchange Appears In US



According to The Wall Street Journal, in the summer of 2020, the United States will launch a new Members Exchange. Its main idea is to reduce transaction fees to a minimum, thus attracting investors and competing with the NASDAQ and the New York Stock Exchange.

We understand what Members Exchange is and who needs this project.

What is a low-cost exchange?


The Members Exchange project was launched in 2019 by nine influential financial companies, banks and brokerage firms, including Bank of America Merrill Lynch, UBS, Morgan Stanley, Citadel Securities and others.

The main goal of the project is to create an exchange with transparent processes for investors and low prices. The project sees the largest US exchanges NASDAQ and NYSE as its main competitors.



MEMX Exchange Development Plan

Why do I need another exchange


According to WSJ, large financial companies were dissatisfied with the commissions of exchange platforms, as well as the cost of their services - for example, access to market data.

MEMX plans to reduce fees to a minimum and seriously reduce the price of data access services. In theory, this should lead to lower prices and other exchanges.

Currently, there is only one exchange in the United States that is not owned by the three largest players in this market - International Exchange, NASDAQ or Cboe Global Markets (Chicago Exchange) - this is the IEX platform (we wrote about it here ).

You can buy shares of various American companies from Russia without opening a separate brokerage account with foreign brokers. Using the marketForeign securities St Petersburg Stock Exchange investors can buy 500 liquid stocks of leading companies from all sectors of the global economy, including all shares of S & P 500. Index

to make transactions with such shares, you will need a brokerage account - open it , you can online .

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