Members Exchange (MEMX), a market operator founded by members to benefit all investors, announces strategic financing from BlackRock, Wells Fargo, Flow Traders, Manikay Partners, and Williams Trading, closing the round with more than $65 million raised. The amount invested since inception now exceeds $135 million.
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Jonathan Kellner, CEO of Members Exchange, said, “We are excited to welcome these five new investors to MEMX and further broaden our diverse consortium.”
BlackRock also assumes a board seat as part of the transaction. Previous investors in the round, as announced February 20, 2020, were J.P. Morgan, Goldman Sachs, and Jane Street.
Jonathan Kellner, CEO of Members Exchange, said, “We are excited to welcome these five new investors to MEMX and further broaden our diverse consortium. Our mandate to build a market for all investors and further the market-structure debate on behalf of all participants is reinforced by BlackRock joining the board.”
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“I thank the entire MEMX team for their diligence and dedication. Receiving these major financial commitments in this challenging environment is another sign that our hard work is paying off and that the MEMX mission remains as important as ever,” he said.
Hubert De Jesus, Global Head of Market Structure and Electronic Trading at BlackRock, said, “BlackRock has long been an advocate for market structure enhancements that increase transparency and efficiency. We look forward to engaging with the MEMX community to drive innovation in the marketplace that benefits our clients and end-investors.”
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