Sept 21 (Reuters) - The Members Exchange (MEMX), a new bourse backed by major Wall Street firms as a potential rival to the New York Stock Exchange and the Nasdaq , is set to launch on Monday, the Wall Street Journal reported  
   The exchange, which is expected to execute its first trades at 7 a.m. ET, will initially handle trades in seven stocks, including Google-parent Alphabet Inc and Exxon Mobil Corp , according to the report.
   MEMX, which will look to compete against the NYSE and Nasdaq through lower fees, postponed its scheduled launch on July 24 due to the COVID-19 pandemic.
   Goldman Sachs Group , JPMorgan Chase & Co and BlackRock Inc are some of the backers of MEMX.
   MEMX did not immediately respond to a Reuters request for comment.

(Reporting by Niket Nishant in Bengaluru; Editing by
Ramakrishnan M.)
((Niket.Nishant@thomsonreuters.com;)