Press release

Members Exchange Unveils Transaction Pricing

Sponsored by Businesswire

Members Exchange (MEMX), a market operator founded by members to benefit all investors, today unveiled its inaugural fee structure with no pricing tiers or charges for market data or connectivity.

Members will pay 25 cents per 100 shares to remove liquidity. Liquidity adders will be rebated 29 cents per 100 shares for displayed volume and 20 cents per 100 shares for non-displayed, including mid-point, volume. All pricing is subject to filing with the U.S. Securities and Exchange Commission.

Jonathan Kellner, CEO of Members Exchange, said, “We continue to see a high level of engagement and support for our exchange. This enthusiasm reaffirms our belief that there is a need for competitive alternatives within the exchange space.” He added, “To further incentivize participants to connect to a new destination, we are implementing initial pricing that generates a net loss for the exchange on each transaction. We are confident that as participants experience the benefits of our platform, they will continue to incorporate MEMX in their routing strategies.”

Launch transaction pricing will be in effect until further notice. As announced in May, MEMX is well capitalized with more than $135 million raised from investors since inception.

“Our goal is to bring competitive pressure to the exchange space through a simplified market model utilizing best in class technology,” said Mr. Kellner. “We believe we can scale our organization such that the fees we charge are rational, transparent and tightly aligned with the value MEMX is providing.”

MEMX has conducted three successful User Acceptance Tests (UAT), onboarded over forty members, and is currently trading all NMS test symbols. On September 21st, MEMX will begin live trading in seven symbols (ACST, BB, ED, F-B, GOOG, ICSH, and XOM). On September 29th, MEMX will begin live trading all NMS symbols.

A link to the complete fee schedule for MEMX’s launch can be found here, as well as on

About MEMX:

Founded in 2019 by diverse members of the global financial community, Members Exchange is an innovative, customer-centric market operator, focused on creating and promoting a fair, transparent, and efficient experience for all investors. MEMX offers a new option to investors, with a simpler platform and features to benefit both retail and institutional investors. For more information on MEMX, please visit and follow @memxtrading.