The Boston Stock Exchange closed the Boston Equities Exchange or BeX, trading facility it co-founded with Citigroup, Credit Suisse, Fidelity Brokerage, Lehman Brothers and Merrill Lynch.
In a notice sent today to BeX clients, Boston Stock Exchange executives said “we want to make certain you are aware that the BeX market has discontinued operations effective today.” BeX, which made its debut in December 2006, never attracted volume. Its closure, which will lead to an unspecified number of layoffs, leaves nine U.S. equity exchanges in operation.
The BSE, which only performs regulatory functions, also operated a Boston trade reporting facility for brokers who match their trades in house. That unit will close at the end of business on Sept. 14, according to today’s notice.
The same five firms are also partners in the independent LeveL ATS crossing network, whose operations are not affected by the BeX closure.
