Thought so, but just curious if after Nasdaq gives a green light, does SEC need to check the box … final green light ???? Haven't heard about new exchange but 2020 ???? Hopefully, if CVSI so desires, it can jump ship from the Nasdaq to another / better by then.
A group of major Wall Street investment firms will set up a rival stocks exchange in the coming months that they hope will take market share from established rivals such as Nasdaq (NDAQ - Get Report) and CME Group (CME - Get Report) . Nasdaq and CME shares fell.
Morgan Stanley (MS - Get Report) , Fidelity Investments and Citadel Securities will launch the low-cost trading venue, which they plan to called the "Members Exchange", or MEMX, sometime later this year. Bank of America Merrill Lynch, Charles Schwab (SCHW - Get Report) , TD Ameritrade (AMTD - Get Report) , Virtu Financial (VIRT - Get Report) , UBS Group (UBS - Get Report) and E*Trade Financial (ETFC - Get Report) are also involved in funding and controlling the upstart exchange.
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