NASDAQ BX

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NASDAQ OMX BX
Founded Re-launched January 16, 2009
Headquarters Boston, Mass.
Key People Eric W. Noll, CEO The NASDAQ Stock Market LLC & NASDAQ OMX PHLX LLC

Tom Wittman, Head of U.S. Options at NASDAQ OMX

NASDAQ OMX BX (BX) is the name given to the Boston Stock Exchange after it was acquired by NASDAQ OMX.

On June 29, 2012, it was announced that NASDAQ OMX BX Options had become an OCC participant exchange and would begin operations that day. [1] The addition of NASDAQ OMX BX Options to the NASDAQ OMX exchange group brought the total number of options markets in the U.S. to ten.

History

Nasdaq re-launched the Boston exchange as Nasdaq OMX BX on January 16, 2009. The Boston exchange operates with the same technology infrastructure and matching engine that Nasdaq uses. However it uses different pricing that targets different constituencies.

The exchange announced that as of March 2, 2009 Nasdaq would invert Boston's pricing, pushing its take fee below its rebate. This move made it more competitive with the NYSE, which announced a plan to push its liquidity rebate up to 10 cents per 100 shares, from no rebate, and the liquidity take fee to 18 cents per 100 shares, from 10 cents.

Initially, BX continued to credit liquidity providers 20 cents per 100 shares, but as of March, 2009 it charged liquidity takers 14 cents instead of 22 cents. Member firms that take as much liquidity as they provide would be able to pocket the 6-cent spread. [2]

Products and Services

BX trades national-listed (Reg NMS) securities that are listed on NASDAQ, the New York Stock Exchange (NYSE), NYSE Alternext and other regional exchanges.

Key People

References

  1. NASDAQ OMX BX Options Options Exchange Joins. MondoVisione.
  2. Nasdaq Targets NYSE with Boston Market. Traders Magazine.