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Goldman Sachs and JPMorgan Chase Back New Stock Exchange

Goldman Sachs and JPMorgan Chase Back New Stock Exchange

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FintechNews RoundupUSA
··1 min read

Members Exchange can now count Goldman Sachs and JPMorgan Chase as backers with the banks agreeing to join the new round of financing; the company did not disclose how much money was raised but the exchange raised $70mn in their first round of financing last year; Members Exchange hopes to challenge the top three exchanges by charging lower fees, currently the NYSE, Nasdaq and the Cboe dominate with 60 percent of trading volume; “We’ve been quite vocal about the rising cost of data,” Jason Sippel, Global Head of Equities and Prime Services at JPMorgan, said in an interview with the Wall Street Journal. “Lowering data costs will benefit all of our clients.”; other backers of the firm include Bank of America, Charles Schwab, E*Trade, Fidelity, Morgan Stanley, TD Ameritrade and UBS. The Wall Street Journal

  • Emily Donato

    With efforts in many different areas of the team, she helps manage, organize and execute digital and event content. She works with webinars, podcasts, social media along with managing the hundreds of speakers that attend our conferences. Emily was a part of the Zimmerman Advertising Program at the University of South Florida. She graduated in 2019 receiving a Bachelor of Science in Business Advertising.

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