MEMX expands offering with launch of US options exchange

Following approval from the SEC last year, MEMX Options will offer traders passive and active risk management capabilities, building off its existing equities exchange.

MEMX, the member’s exchange, has launched its platform for trading listed options following approval from the US Securities and Exchange Commission in August last year.  

Named MEMX Options, the new exchange was built to extend the firm’s remit following the success of its equities exchange and member-aligned market model to the options community.

MEMX Options will leverage MEMX’s data-centric exchange architecture and infrastructure, offering traders passive and active risk management capabilities.

“I am proud and grateful to announce the launch of MEMX Options just three years after we started trading equities. This is a significant step for MEMX, and I appreciate the team’s dedication and effort in achieving this milestone,” said Jonathan Kellner, chief executive of MEMX.

“The successful launch of an exchange requires the support of our trading, clearing, and exchange colleagues, and we are thankful for the partnership we have received throughout the many months leading up to our options launch.”

Since launching in 2020, MEMX has grown to over 4% market share. The exchange said its expansion into options will allow it to increase this further and cater to a wider range of investors.

MEMX Options has launched phase one of its operation with three symbols including Starbucks (SBUX), ImmunoGen Inc. (IMGN) and SPDR Gold Trust (GLD), with additional multi-list, non-index products expected to be rolled out in the near future.

Earlier this year, MEMX completed a strategic equity funding round led by Optiver to support the launch of MEMX Options. Additional firms who participated in the round included new investors Belveder Strategic Capital, LP, Chicago Trading Company and IMC, as well as existing investors Citadel Securities and Virtu Financial.