Proven Trading System Software to Become Platform Backbone
NEW YORK, Jan. 25, 2024 /PRNewswire/ — Blue Ocean Technologies, LLC (BOT), a unique capital markets fintech leader in global afterhours trading, and MEMX, a market operator founded by a diverse group of participants to benefit all investors, announced today they have reached an agreement for a technology partnership. As part of the arrangement, MEMX will provide BOT its sophisticated market-as-a-service trading system to operate the Blue Ocean ATS global trading platform. The technology will be implemented by the end of Q1 2024.
Matthew Horisk, Chief Information and Operating Officer of Blue Ocean Technologies, commented, “As we continue our global trading evolution, we are delighted to see the Blue Ocean electronic trading mission adopted across borders. The growth in our volume this year has validated our business model and has led us to today’s exciting technology partnership with MEMX, which will help drive our platform to new heights. MEMX’s next generation trading system offers resilience and redundancies for a new level of trading innovation needed to implement our 2024 goals. It is a pleasure to work with experienced and like-minded industry veterans that share in our vision of providing investors new trading benefits and opportunities despite their geographic location.”
“We are delighted to have been selected as Blue Ocean’s technology partner,” said MEMX’s CEO Jonathan Kellner. “Our recently launched market technology business is yet another way in which MEMX seeks to improve the trading experience for all market participants, and the rapid growth of this business validates an industry-wide need for this offering. We believe that MEMX’s best-in-class technology will be highly additive to Blue Ocean’s operations and look forward to working with them in this exciting time of global growth.”
Licensing the same proven technology that powers MEMX’s US equity and options exchanges, market technology clients can quickly launch new market centers or upgrade their existing technology to MEMX’s high performance, low latency, deterministic platform. MEMXs technology platform is asset class agnostic, decoupling transaction, data and messaging from any implementation specific business constructs or logic while supporting client defined operating hours and market sessions.
Throughout 2023, Blue Ocean Technologies has continued to expand globally extending its trading model in Asia-Pacific. With partnerships in South Korea, Hong Kong, and Japan, Blue Ocean is focused on empowering international investors seeking broader access to US equities.
About Blue Ocean Technologies:
Blue Ocean Technologies, LLC (BOT) is a unique capital markets fintech company empowering global investors by making trading possible during US overnight trading hours. Blue Ocean ATS, LLC, and its trading system Blue Ocean Alternative Trading System (BOATS), currently trade US National Market System (NMS) stocks from 8:00 pm to 4:00 am ET from Sunday – Thursday. Founded in 2019, Blue Ocean ATS is on a mission to transform US trading to Global trading via its flagship service, Blue Ocean Session, providing access and transparency to subscribers in all time zones during non-traditional US market hours. For more information, visit www.blueocean-tech.io or contact us at sales@blueoceanats.com.
About MEMX:
MEMX is a technology-driven exchange operator providing its members and the global investment community with a simpler, less costly, and more transparent way to access liquidity. The firm currently owns and operates two exchanges trading U.S. equities and U.S. options. MEMX also provides market technology and services to clients. Founded in 2019 by a diverse group of financial firms, MEMX’s mission is to create healthy competition and advocate for market structure reform that results in more efficient and sensible trading experiences for all investors.
SOURCE Blue Ocean Technologies, LLC
