NYSE Arca Options

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NYSE Arca Options
NYSE Arca Options 4CP POS.PNG
Headquarters New York, NY
Key People Ivan Brown, CEO
Products options
Website globalderivatives.nyx.com/nyse-arca-options

NYSE Arca Options, originally the Pacific Exchange, is the options trading platform that was previously part of Archipelago and is currently a subsidiary of the Intercontinental Exchange as a result of ICE's acquisition of NYSE Euronext in November 2013. 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

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 13 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]

Key People

References

  1. NYSE Arca Options. NYSE.com.