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BlackRock Joins Equities-Trading Giants in Backing New Exchange

May 12, 2020, 1:00 PM

BlackRock Inc. became the latest stock-trading giant to throw its weight behind Members Exchange, the new venue that’s raised $135 million since it was founded last year.

The world’s biggest asset manager also gained a spot on MEMX’s board and is among a crop of new backers that includes Wells Fargo & Co., Flow Traders, Manikay Partners LLC and Williams Trading LLC, which contributed a combined $65 million to the latest fundraising round, Members Exchange said in a statement Tuesday. They join some of the world’s biggest banks, electronic market makers and retail brokerages already on the ...