The Nasdaq Stock Market Inc. announced that it has begun to offer options routing.
Customers will be offered connectivity and routing to the major options exchanges through its BRUT broker-dealer. These exchanges include: the American Stock Exchange, Boston Stock Exchange, International Securities Exchange, Pacific Stock Exchange, the Philadelphia Stock Exchange, and the Chicago Board Options Exchange. Nasdaq will not match option orders but will offer the intelligent connectivity platform to the options exchanges.
“Nasdaq has been successful in facilitating effective, low-cost trading solutions for its customers. With our high-speed options routing linkage, customers will have the ability to leverage existing Nasdaq FIX connectivity in the equities business to route options in a neutral and anonymous environment,” said Chris Concannon, executive vice president Nasdaq Transaction Services.
“Our options offering will capitalize upon the industry demand for trading options electronically with the ability to make specific smart routing choices and to specify a route to a preferred exchange destination,” added Concannon.
Nasdaq also announced that it has selected Penson Financial Services for options clearing services.
Nasdaq begins roll-out for options routing business
Customers gain ability to route options in a neutral and anonymous environment
- By: James Langton
- April 18, 2006 April 18, 2006
- 08:35