NEW YORK: The Members Exchange (MEMX), a new bourse that aims to take on the New York Stock Exchange and Nasdaq Inc, and is backed by financial heavyweights including Bank of America Corp and BlackRock Inc , said on Thursday it will launch on Sept. 4.

MEMX, which was founded by many of the biggest customers of Intercontinental Exchange Inc's NYSE and Nasdaq, has raised $135 million since it was founded in January 2019 to challenge what those firms saw as excessive exchange fees for trading and related services such as market data.