Commentary

BRAVE NEW WORLD
Dan Mathisson

Uncanny Resemblance

The line between exchange trading and off-exchange trading has blurred to the point where there really isn’t that big a distinction anymore.

Traders Poll

The SEC recently extended the Reg SCI comment another 45 days until June 8. Is this enough time to gather comments on the proposed rule?



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More Articles - Options

Side By Side, but Worlds Apart

Nathalie Texier-Guillot and David Silber sit side by side in Citigroup's equity derivatives department. But their worlds couldn't be further apart. And yet to a certain extent, their worlds are converging.

Bridging the Gap

Like many cities, Sacramento is dealing with an underfunded pension liability. Unlike most cities, Sacramento is using options to help plug the hole.

What Happened?

This month, CBOE is scheduled to move SPXpm into the open-outcry pits at CBOE. The exchange expects the move to goose volume.

To the Contrary

Volume in derivatives contracts based on the CBOE's VIX Index is soaring despite a calmer stock market and a decline in trading of options products in general.

Opening Up

Paul Jiganti, TD Ameritrade's new head of market structure and routing strategy, speaks with Traders Magazine about options and his background in that market.

Livevol Launches New Options Trading Platform

Livevol, a San Francisco-based vendor of equity options trading technology, has launched a new options trading system that includes a trade execution system, data and analytics tools and visual aids.

Boyle is Back, at BOX

Ed Boyle has returned to the exchange business. The well-known options industry executive has joined the Boston Options Exchange as a senior vice president of business development and strategy, according to a company announcement. The move marks a return to the exchange business for Boyle, who spent about three years running two options exchanges owned by NYSE Euronext.

Going It Alone

The controversial practice of dividend-capture options trading has ground to a halt at three of the four floor-based exchanges that have offered it. According to data published by the International Securities Exchange, dividend trade volume disappeared at NYSE Arca, NYSE Amex and the Chicago Board Options Exchange in November.

Beauty Contest

Mirror, mirror on the wall, who's got the best marketplace of them all? According to recent statistics published by Tabb Group, the best options marts are the four traditional pro rata options exchanges. On average, they bested their newer, time-priority rivals in four categories that purport to measure market quality.

Fade to Black

Traders in cash equities may be grappling with the newfangled concept of kill switches. But for traders working in listed options, they're old hat.

Navigating the Noise

MEB Options, an institutional brokerage based in Chicago, has joined forces with the International Securities Exchange to provide a service that helps traders locate the various legs in their multi-leg trades.

Casting a Wider Net

With options volume down this year industry professionals are looking beyond traditional players such as retail investors and hedge funds for growth.

FINRA Eyes Options Manipulation

The Financial Industry Regulatory Authority is investigating allegations of manipulation in the options market. Specifically, the regulator is targeting newly discovered types of "mini manipulation," or the trading of an option's underlying equity in order to profit from movements in the price of the option.

Volant Dives Into Routing

Volant Trading is entering the options routing business. The proprietary trading firm recently hired two executives formerly involved with Goldman Sachs' options routing business to head the new initiative

Navigating A Risky World

Macro Risk Advisors, a specialty options broker formed in the wake of the financial crisis, is carving out a niche for itself advising hedge funds how to navigate a volatile world. And with a dozen analysts and traders already in place, the New York-based firm is looking to expand.