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Gladstone Place Partners handled the launch of the Members Exchange or MEMX, which is envisioned as a low-cost stock exchange designed to challenge the New York Stock Exchange and NASDAQ.
Financial heavyweights Fidelity Investments, Morgan Stanley, Charles Schwab, Bank of America Merrill Lynch, UBS and TD Ameritrade back MEMX, which they believe will lower cost, simplify trading and increase operational transparency.
The Wall Street Journal noted Jan. 7 that Wall Street brokers and traders have been frustrated for years about the high fees charged by the US stock exchanges.
MEMX will file an application with the Securities and Exchange Commission during the first-quarter for approval to operate a national securities exchange.
GPP’s Patricia Figueroa and Max Dutcher represent MEMX.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group handles Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
C Street Advisory Group handles strategic communications duties for American Signature Inc. as the Columbus-based home furnishings retailer declares Chapter 11.
