Options Exchange Enters Its Second Year with Positive Momentum

MEMX, a technology-driven exchange operator founded by members to benefit all investors, reached over 3% total options market share and 6.1% regular electronic options market share in September 2024, coinciding with the one-year anniversary of the exchange.

Underscoring the strength of the offering, MEMX Option’s market share more than doubled since May of 2024 in the continuous trading single-leg equity and ETF options category in which the exchange operates.

“Since its launch, MEMX Options has redefined trading dynamics, offering unprecedented opportunities and efficiencies for participants,” said MEMX CEO Jonathan Kellner. “We are proud to celebrate this pivotal moment with our partners, clients, and dedicated team members who have been integral to this journey. We look forward to continuing to collaborate with our diverse group of options and equities member firms to find new ways to grow and improve participant experiences on MEMX exchanges.”

MEMX Options first year of operation milestones for September 2024 include:

• 33 member firms contributing diverse customer and non-customer order flow.
• SPY regular electronic market share of 5.8%. Ranked #2 out of 18 exchanges in quote performance. SPY consistently accounts for ~18% of total options contract volume.
• Regular electronic market share of 5.8% in penny underlyings. Ranked #3 out of 18 exchanges in quote performance.
• Regular electronic market share of 9.9% in non-penny underlyings. Ranked #3 out of 18 exchanges in quote performance.

The decision to launch MEMX Options was driven by MEMX’s successful track record of delivering value to market participants through its equities exchange. MEMX is committed to continuing to evolve and grow over the coming years to meet the demand across the trading community by leveraging the strengths of MEMX’s state-of-the-art trading technology.

About MEMX:

MEMX is a technology-driven exchange operator providing its members and the global investment community with a simpler, less costly, and more transparent way to access liquidity. The firm currently owns and operates two exchanges trading U.S. equities and U.S. options. MEMX also provides exchange technology solutions to clients. Founded in 2019 by a diverse group of financial firms, MEMX’s mission is to create healthy competition and advocate for market structure reform that results in more efficient and sensible trading experiences for all investors.

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