Bingo. Exchanges get a mind of their own, come under shareholder pressure to perform, and start pushing the edge of what pricing customers can stomach. When customers do reach the edge, we start seeing things like MEMX.
As I listen to public exchanges talk about MEMX, it's becoming clear to me that there are two different games at play. MEMX is NOT focused on maximizing profits like their competitors are. Their goal is better prices for their owners - a 180 from everyone else's strategy:pic.twitter.com/dwwRvclKGg
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Let’s be real, they are focused on gaining sufficient market share. Taking a page out of so many others like BATS. I don’t for a minute think these guys are worried about the greater good. And when they get enough share they will try and sell the biz...
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I agree they're looking to build market share and are not worried about "the greater good" - I just find it interesting that MEMX is motivated by factors other than profit, at least for now. I guess I'm taking them at their word that they were indeed launched to lower data fees.
End of conversation
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