Wavelength Podcast Episode 151: Examining the MEMX Announcement

Liquidnet's Adam Sussman joins to discuss the Members Exchange: Why do we need another trading venue, what are the tech challenges, who will be the CEO?

James Rundle, WatersTechnology’s editor, and Anthony Malakian, editor at large, record a weekly podcast touching on the biggest stories in financial technology.

To hear the full interview, listen in the player above, or you can download it.

Adam Sussman, head of market structure and liquidity partnerships for Liquidnet, joins the podcast to talk about the Members Exchange (MEMX), which is a proposed new venue for trading US stocks that is backed by a consortium of financial firms: Bank of America Merrill Lynch, Charles Schwab, Citadel Securities, E*Trade, Fidelity Investments, Morgan Stanley, UBS, TD Ameritrade, and Virtu Financial.

Challenging US Exchanges Will be Uphill Battle for MEMX, Experts Warn

Adam’s Blog Post on the Announcement: Is it Live, or is it MEMX?

2:00 Does the US need another equities venue?

5:00 Might this be a play by these firms to get the established trading venues to lower their fees?

10:00 There aren’t any human names attached to this project yet, should that raise red flags?

13:00 From a tech standpoint, are there any barriers for entry into the exchange marketplace?

18:00 Moving forward, if this exchange gets off the ground, how will it add liquidity?

19:30 Prediction: In three years will the Members Exchange exist?

21:00 Why does Adam think the first letter of the CEO’s first name “will be J. Maybe R.”

23:00 Adam also gives an update on Liquidnet’s integration of OTAS Technologies.

26:30 And finally, what was it like switching from the consultancy world to the end-user world?

Contact Info

As is the case with everything we do, we’d love to get some feedback from our listeners. Feel free to reach out to Anthony or James via Twitter or email.

Anthony Malakian, editor at large: @a_malakiananthony.malakian@infopro-digital.com

James Rundle, US editor: @JimRundle; james.rundle@infopro-digital.com

Past 10 episodes:

Episode 141: Brexit and Blockchain and Data, Oh My

Episode 142: AWS Talks Cloud Adoption in the Capital Markets

Episode 143: Rick Lane of Trading Technologies on Cloud, Crypto

Episode 144: Market Data Fees Fight & Crypto Hype

Episode 145: CSDs Consider Crypto; Bank Robberies & AI; DTCC’s Blockchain 

Episode 146: Waters USA Preview; Brexit Drama

Episode 147: Crypto Insurance; Waters USA Recap

Episode 148: A Look at APAC Trends for 2019

Episode 149: The Biggest Stories from 2018

Episode 150: Bill Murphy of Blackstone Group

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