Brokers form new stock market to take on NYSE, Nasdaq, Cboe

NINE BIG BANKS and brokers are attempting to form a new United States stock market called The Members Exchange. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE
NINE BIG BANKS and brokers are attempting to form a new United States stock market called The Members Exchange. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE
NEW YORK - A group of big banks and brokers is forming a new United States stock market, funneling years of frustration about how much exchanges charge into the creation of a competitor. The nine founders, including Morgan Stanley, UBS Group AG, Citadel Securities LLC and Virtu Financial Inc., are seeking to “increase competition, improve operational…

Want More?

Subscribe or register with Providence Business News to keep reading.

REGISTER
for 2 more stories

Subscribe now for $1 for 4 weeks
Already a Subscriber? Login now

Purchase NowWant to share this story? Click Here to purchase a link that allows anyone to read it on any device whether or not they are a subscriber.

- Advertisement -