The Members Exchange , a new bourse backed by major Wall Street firms looking to take on the New York Stock Exchange and Nasdaq Inc through lower fees, said on Friday it delayed its planned launch date due to the coronavirus crisis.
MEMX now expects to launch at some point in the third quarter, rather than on July 24, and has delayed industry testing for its platform, which was to begin on May 11, until later this quarter, Chief Executive Officer Jonathan Kellner said on the startup's website.The United States has reported more coronavirus infections than any other country, with nearly 670,000 cases and at least 33,300 deaths.
MEMX, which still needs approval from the U.S. Securities and Exchange Commission , is funded and controlled by some of the biggest customers of Intercontinental Exchange Inc's NYSE and of Nasdaq.
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