MEMX schedules MX2 testing and registration updates for members
MEMX is outlining a series of operational updates for market participants, including an upcoming MX2 user acceptance test and registration procedures for exchange members. The notices also cover an industry-wide circuit breaker exercise on September 12, 2026, and the availability of a new daily trade detail file through the MEMX User Portal.
Highlights
- MEMX schedules an MX2 user acceptance test in the pre-production environment for Saturday, August 29, with additional production UAT from 9:30 a.m. ET to 1:00 p.m. ET.
- Registration with MX2 is now available through FINRA's Central Registration Depository for Form BD and Form U4 applicants, requiring firms and associated persons to update filings accordingly.
- MEMX will participate in a Market-Wide Circuit Breaker test with industry peers on Saturday, September 12, 2026, and certain members must join at least one MWCB test annually.
MX2 testing schedule and member requirements
As reported by MEMX, an MX2 user acceptance test in the pre-production environment is scheduled for Saturday, August 29. A UAT session is also available in the MX2 production environment from 9:30 a.m. ET to 1:00 p.m. ET, with additional testing details and subsequent dates referenced in Trader Alert 26-38.MEMX says its Market Operations and Member Experience teams are available to answer participant questions. In a separate reminder, the exchange says registration with MX2 is available on FINRA's Central Registration Depository for both Form BD and Form U4 applicants.
Broker-dealer firms must designate MX2 on their Form BD filings, while associated persons must submit Form U4 through CRD to request registration with the exchange.
Industry testing and data access implications
The Securities Information Processors are conducting a Market-Wide Circuit Breaker Level 1, Level 2 and Level 3 test on Saturday, September 12, 2026, and MEMX is participating in coordination with other market participants under a defined test script.Certain members designated by MEMX are required to take part in at least one industry-wide MWCB test during each testing year and verify that participation, while the exchange encourages all members to join the exercise. MEMX also says the MX2 Options Daily Trade Detail File is available in the MEMX User Portal at memxtrading.com.
Our earlier coverage of the U.S. Treasury’s expanded buybacks of longer-dated Treasurys explained how the liquidity-focused step still coincided with rising long-end yields and firmer market-based inflation expectations. We noted that breakeven inflation rates and yields rebounded after an initial dip, highlighting how quickly markets can reprice risk when policy actions, supply dynamics, and inflation concerns collide.