Bank of America

Half of the 10 biggest bank mergers have resulted in name changes

How unpopular are America's biggest banks? Here's a good indication: Fully half of the 10 biggest bank mergers in American history ended up with the acquirer giving up its name.

Data: Dealogic; Note: As of Feb. 7, 2019; Chart: Andrew Witherspoon/Axios

A new stock exchange is on the way

The NYSE exchange
Photo: Spencer Platt/Getty Images

Nine major financial firms, including Morgan Stanley, Bank of America, and Fidelity Investments, are launching a new stock exchange — the Members Exchange, aka MEMX.

Details: MEMX expects to file an application with the Securities and Exchange Commission this year with plans to reduce costs and streamline the trading process, though it’ll probably be awhile before it’s up and running. Shares of NYSE's parent Intercontinental Exchange and the Nasdaq fell 2% after news of the newcomer broke.

More stories loading.