NYSE Arca Options
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WATCH: Steven Crutchfield of NYSE Discusses New Management Structure and Options Technology on MarketsWiki.tv (September 2012) |
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| NYSE Arca Options | |
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| Headquarters | New York, NY |
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| Key People | Steven Crutchfield, CEO |
| Products | options |
| Corporate Website | globalderivatives.nyx.com/nyse-arca-options |
NYSE Arca Options is the options trading platform from NYSE Euronext. The exchange is a "hybrid market" which offers both electronic and floor executed options. The exchange has floor operations in San Francisco, the location of the former Pacific Stock Exchange.
Key features of the system include:
- A market structure blending price-time priority with Lead Market Maker participation (LMM)
- Expanded order types
- An increase in the number of classes per Options Trading Permit (OTP) that a Market Maker may select for its appointment
Contents |
Structure
The NYSE Arca Options market is a “hybrid” market, with both screen trading and floor trading. Market participants can trade electronically through the all-electronic trading platform (OX), or by open outcry at the NYSE Arca Options floor in San Francisco. The floor facility enables broker-negotiated trades, particularly for large crosses and complex orders.
All NYSE Arca Options products are available electronically. NYSE Arca Options blends price-time priority with a Lead Market Maker (LMM) program.
History
NYSE Arca Options, one of currently six US equity options exchanges, was formerly the Pacific Exchange. In 2005, Archipelago Holdings, owner and operator of ArcaEx, an electronic equities exchange, acquired the San Francisco-based Pacific Exchange and began building a completely new electronic options platform based on Archipelago’s successful equities trading platform.
In 2006, the New York Stock Exchange merged with Archipelago and the exchange became NYSE Arca Options.[1]
Penny Pilot
NYSE Euronext's proposal for the expansion of the SEC's Penny Pilot program, filed by NYSE Arca options, was approved for market-wide implementation by the SEC on September 23, 2009. The approval extends the proposed pilot through December 31, 2010.[2]
Steven Crutchfield JLN Options Interview
Steven Crutchfield of NYSE Discusses New Management Structure and Options Technology
Steven Crutchfield was named CEO of NYSE Euronext’s two U.S. options exchanges, NYSE Amex Options and NYSE Arca Options earlier this month. The move marks a new management strategy for NYSE’s options markets, which had been managed separately. Crutchfield spoke with John Lothian News editor-in-chief Jim Kharouf about the new management structure, new initiatives for market makers and in risk management as well as dealing with lower options volumes this year. Published September 21, 2012.[3] Watch at MarketsWiki.tv
Key People
- Steven Crutchfield, chief executive officer
References
- ↑ NYSE Arca Options. NYSE.com.
- ↑ NYSE Euronext’s U.S. Options Penny Pilot Expansion Filing Adopted by the SEC. NYSE Euronext.
- ↑ Steven Crutchfield of NYSE Discusses New Management Structure and Options Technology. MarketsWiki.tv.
