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