Options Linkage
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All registered U.S. options markets are linked together on a real-time basis through a network capable of transporting orders and messages to and from each market. The charter of the linkage, according to The Options Clearing Corporation (OCC), is to further increase market efficiency, enhance competition, facilitate the offsetting of investor orders, and contribute to best execution of those orders. Linkage is governed by the Options Linkage Authority (OLA) under the conditions set forth by "the Plan" approved by the US Securities and Exchange Commission (SEC).
OLA consists of:
- American Stock Exchange (AMEX)
- Boston Options Exchange, Inc. (BOX)
- Chicago Board Options Exchange (CBOE)
- International Securities Exchange (ISE)
- NYSE Arca, formerly Pacific Exchange, Inc.
- Philadelphia Stock Exchange (PHLX)
These participants developed the plan pursuant to an order issued by the SEC on October 19, 1999, directing them to develop an option intermarket linkage plan.[1]
References
- ↑ Options Linkage Plan. The Options Clearing Corporation. Retrieved on March 05, 2008.
