A new exchange backed by Wall Street banks, electronic-trading firms and asset-management giant BlackRock Inc. launched Monday, introducing a new, low-cost competitor to the New York Stock Exchange and Nasdaq Inc.Members Exchange, or MEMX, executed its first trade at 7:48 a.m. ET, with 100 shares of Consolidated Edison Inc. changing hands for $73.90 a share. Initially the exchange will handle trades in seven stocks, including Alphabet Inc. and Exxon Mobil Corp. On Sept. 29, MEMX plans to extend trading to all U.S. exchange-listed...

Source: Wall Street Journal September 21, 2020 09:33 UTC