Changes

Jump to: navigation, search

Cboe EDGX Options Exchange

772 bytes added, 20:46, 4 November 2019
Bats first filed with the SEC to launch EDGX as a second options exchange on April 16, 2015 <ref>{{cite web|url=http://marketsmedia.com/bats-to-launch-its-2nd-industrys-13th-options-exchange/|name=Bats to launch its 2nd, industry’s 13th, options exchange|org=Press Release via MarketsMedia|date=August 10, 2015}}</ref> and received SEC approval for the exchange on August 10, 2015. With the launch of EDGX Options, Bats hoped to compete for a new segment of order flow that did not trade on the price-time markets that Bats operated. The pro-rata market accounted for about two-thirds of the trading in the overall U.S. options market at the time.<ref>{{cite web|url=http://www.bizjournals.com/kansascity/news/2015/08/10/bats-edgx-options-market-approval.html|name=BATS gets green light for new options market offering|org=Kansas City Business Journal|date=August 10, 2015}}</ref>
In October On November 1, 2019, Cboe announced it would launch a new retail program officially launched Retail Priority on Cboe EDGX Exchange, adding enhanced . Retail Priority offers an allocation model that differs from the traditional time-based allocation model used by most U.S. equities market centers that allocate trades to orders that arrive first in time at each price point. The Retail Priority model focuses on improving execution quality and trading outcomes for individual investors trading US equitiesand the firms facilitating their orders, by reducing their time to execution. The initiative added Under the mechanism, individual investors' displayed limit orders will post at the front of the order book priority queue for order same-priced orders submitted on behalf of Cboe EDGX. Thus it changes the order allocation priority model on EDGX to price-retail investorspriority-time priority. The launch is scheduled for <ref>{{cite web|url=http://markets.cboe.com/us/equities/trading/offerings/retail_priority/|name=Cboe Retail Priority|org=Cboe|date=November 1, 2019.}}</ref> <ref>{{cite web|url=http://ir.cboe.com/press-releases/2019/10-02-2019|name=
Cboe to Launch Order Book Priority for Retail Investors on EDGX Exchange|org=Cboe|date=October 3, 2019}}</ref>
== Products and Services ==
Options trading with a customer priority/pro rata allocation model
== Key People ==
*[[Edward T. Tilly]], Cboe CEO
*[[Bryan Harkins]], Cboe Executive Vice President, Head of Markets Division
== References ==