The world's largest asset manager has secured a seat on the low-cost stock-exchange start-up's board

The world’s largest asset manager BlackRock has backed the start-up Members Exchange, taking the total investment ploughed into the low-cost stock-exchange to over $135m.

An announcement from MEMX, released on 12 May, said it has agreed to give BlackRock a seat on its board as part of the deal. The start-up intends to launch this summer as a challenger to the New York Stock Exchange and Nasdaq.

BlackRock backs Members Exchange, bringing start-up’s total pot to $135m

Emily Horton

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