New Wall Street-Backed Exchange Pushes Launch To Sept. 21

Law360 (August 28, 2020, 4:17 PM EDT) -- A new stock exchange poised to rival dominant players like the New York Stock Exchange and Nasdaq has delayed its launch of live trading until Sept. 21 to allow for more "industry testing and connectivity work," it announced Friday.

Members Exchange, or MEMX, the startup trading venue backed by Wall Street heavyweights like Morgan Stanley and Fidelity Investments Inc., said Friday that it would push phase one of its rollout from Sept. 4 to Sept. 21, with phase two planned to launch on Sept. 29.

CEO Jonathan Kellner said in a blog post that the road to MEMX's launch has been...

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