3D Markets
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| 3D Markets | |
| Headquarters | New Hope, PA |
|---|---|
| Key People | Chairman, CEO David Mortimer; President, Jeromee Johnson; Chief Operating Officer and Chief Financial Officer, Donald McGill |
| Web site | http://www.3-dmarkets.com/ |
The firm 3D Markets creates and develops software and networks to provide technology solutions aimed at adding liquidity to existing options markets.[1]
It received some attention after building 3D Markets Archangel, a dark pool that allows institutional investors to trade blocks of options.[2]
In 2008, the firm grew by nearly 50 percent, making strategic hires across the organization as the firm started rolling out its Archangel Blind-Bid Cross into full production.
Contents |
News
On May 20, 2008, 3D Markets and the CBOE announced they had signed an exclusive agreement that, when approved by the Securities and Exchange Commission, would allow CBOE to match large institutional buy and sell options orders electronically during a special matching session. The execution price would be determined at the end of the trading day, using a methodology known as “GWAP” pricing (Gamma Weighted Average Price), similar to Value Weighted Average Price (VWAP) used heavily in the securities market.[3]
Under the agreement, the CBOE would provide the regulatory framework necessary for option benchmark trades. The GWAP (Gamma Weighted Average Price) auction and pricing methodologies would be proprietary to CBOE.[4]
History
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Products and Services
3D Markets is the developer of Archangel, a platform that supports two institutional products, the Archangel Blind-Bid Cross and the Archangel Benchmark Cross.
The first round of Archangel users are said to be relatively well known large option market-making firms, as well as several active option trading hedge funds. Participants will be subject to a net capital test to ensure they have sufficient capital and trade large blocks of options.[5]
Key People
- David Mortimer is chairman and CEO of 3D Markets Inc.
- Jeromee Johnson is president.
- Donald McGill is chief operating officer and chief financial officer.
References
- ↑ Company Overview. 3D Markets Inc. Retrieved on May 27, 2008.
- ↑ David Mortimer: Bringing Dark Pools To Options. Wall Street Letter. Retrieved on May 27, 2008.
- ↑ CBOE and 3-D Markets Bring the GWAP to Options. Advanced Trading. Retrieved on June 4, 2008.
- ↑ CBOE Seals Exclusive Agreement With 3D Markets For Benchmark-Priced Trades With "GWAP" Options Pricing. CBOE. Retrieved on May 27, 2008.
- ↑ STA Panel: Bright Future for Dark Pools. Advanced Trading. Retrieved on May 27, 2008.
