Wall Street financial firms plan new exchange to challenge NYSE, Nasdaq

A group of financial services firms, including Morgan Stanley, Fidelity Investments and Citadel Securities LLC, have agreed to jointly launch a new low-cost bourse that will rival Intercontinental Exchange Inc's the New York Stock Exchange and Nasdaq Inc, the companies said in a joint statement https://www.wsj.com/articles/wall-street-firms-plan-new-exchange-to-challenge-nyse-nasdaq-11546866121 on Monday.