WSJ: new stock exchange in works
Fidelity Investments, Bank of America and several other companies are planning a new stock exchange that would represent a cheaper option for companies to list their equity securities, according to the Wall Street Journal.
If approved by the U.S. Securities & Exchange Commission, the new Members Exchange would vie with the New York Stock Exchange and Nasdaq for listings.
Other MEMX backers including UBS, Morgan Stanley, Charles Schwab, E*Trade, TD Ameritrade, Citadel Securities and Virtu Financial.
Alex.Soule@scni.com; 203-842-2545; @casoulman