MEMX Launches MX2 Options on Sept. 14, Scaling to All Names by Sept. 29
Updated
Updated · Markets Media · Aug 20
MEMX Launches MX2 Options on Sept. 14, Scaling to All Names by Sept. 29
1 articles · Updated · Markets Media · Aug 20
Summary
Sept. 14 will mark the start of trading on MEMX’s second options exchange, MX2 Options, with 10 symbols listed on day one.
Three industry tests are supporting the rollout: MEMX said the first user acceptance test at Equinix NY4 successfully connected to OCC and OPRA, with most tested functions working as expected.
Sept. 16 and Sept. 18 will bring 125 and 150 more symbols, lifting the first-week total to 185 names before the exchange adds 500 symbols a day over the next seven business days.
Several firms have already committed to serve as Lead Market Makers under a new LMM program, which MEMX said it created after discussions with members and its options market structure committee.
The launch expands MEMX’s options offering with a second venue, though the exchange said the phased schedule could still change if conditions require a reevaluation.