A new venture backed by Morgan Stanley and UBS is seeking to become a low-cost alternative to the New York Stock Exchange and Nasdaq

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A new venture backed by Morgan Stanley and UBS is seeking to become a low-cost alternative to the New York Stock Exchange and Nasdaq
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Members Exchange is looking to launch as early as mid-2020, and may offer early traders rebates to kick off activity on the new exchange.

Members Exchange filed an application with the SEC to become the nation's 15th stock exchange. The new venture is backed by major financial players including Morgan Stanley and UBS, and aims to compete with the New York Stock Exchange and Nasdaq by cutting fees for traders. MEMX is eyeing a mid-2020 launch, and could offer early traders rebates to kick-start activity on the exchange. Visit the Business Insider homepage for more stories.

Members Exchange filed an application with the SEC to become the nation's 15th stock exchange. The new venture is backed by major financial players including Morgan Stanley and UBS, and aims to compete with the New York Stock Exchange and Nasdaq by cutting fees for traders. MEMX is eyeing a mid-2020 launch, and could offer early traders rebates to kick-start activity on the exchange. Visit the Business Insider homepage for more stories.

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