Dream Exchange to become the first minority-controlled stock exchange uniquely focused on increasing participation in public capital markets across all diverse sectors of society.
CHICAGO, Dec. 6, 2022 /PRNewswire/ -- Dream Exchange announced today that they have reached an agreement for MEMX to provide services and technology for Dream Exchange. Dream Exchange, once fully established, will operate a unique set of exchanges that span all corporate capitalization sizes, forming an effective bridge for small and mid-cap companies to access public capital markets. The Dream Exchange is establishing a National Market System (NMS) Exchange and plans to operate a Venture Exchange pursuant to proposed legislation under the Main Street Growth Act (HR 5795, SB 3097).
Joe Cecala, Founder and CEO of Dream Exchange said, "Our agreement with MEMX is a significant milestone that will enhance the simplicity and efficiency of our future exchange operations and will allow us to concentrate on execution while collaborating on our plans to expand access to public market capital. We believe that the future of exchange technology and public market capital formation are joining forces through the foresight of the MEMX and the Dream Exchange leadership."
"From the outset, we were inspired by Dream Exchange's unique mission and we are pleased to provide our exchange technology services to them. Their selection of MEMX as an exchange technology provider is a strong endorsement of our architecture and operations and we look forward to working with them to achieve their goals," said MEMX CEO Jonathan Kellner.
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. 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.
Dwain Kyles, Managing Member of DX Capital Partners, said, "The creation of Dream Exchange reflects the growing understanding that creative measures must be taken to address current market inequities and lack of access, particularly as concerns small cap and minority-owned companies. We are gratified to work with MEMX on this meaningful initiative."
"We were looking for the optimal technical solution and collaboration that would allow the Dream Exchange to leverage a simple, performant, secure and yet extensible architecture and technology platform best suited for our unique combination of exchanges and to insert and leverage Dream Exchange's unique technologies in a seamless and effective fashion. This partnership between Dream Exchange and MEMX provides that." said Bruce Trask CTO of Dream Exchange.
SOURCE Dream Exchange