How does MERJ differ from traditional or "legacy" securities exchanges?

MERJ is an innovative securities exchange offering a hybrid model that includes traditional members while also allowing direct participation from global investors and traders of all types.

MERJ supports the listing and trading of security tokens and does not require participants to use a custodian to engage in the settlement system or securities depository.

Unlike many legacy exchanges, MERJ is not a "walled garden." The MERJ model promotes the free and easy movement of security tokens listed on MERJ Exchange, subject to certain Listing Rules.

Source: MERJ gets backing for security token exchange in Seychelles