A fully automated trading system created by the Boston Stock Exchange and five other financial conglomerates. The BEX offered a high-speed, low-cost alternative to market duopoly. The BEX also provided a superior ability to route market trades electronically and the opportunity for anonymous trade handling and execution.
Taobiz explains Boston Equities Exchange - BEX
The BEX opened in December of 2006 and was closed on September 5, 2007. It had struggled to gain market share because of the strength of its participants. The BEX's short life raises questions about whether fully automated exchanges can compete with the traditional exchanges and Nasdaq.