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A New Era in Options

Traders Magazine, May 2004

John Gelbard

The information technology revolution is finally arriving in the inter-dealer market for listed options. Many of the largest investment banks and financial institutions are now encouraging electronic-quote messaging. Jonathan Larkin, head of U.S. electronic options trading at J.P. Morgan, says this trend is welcome. However, he notes that the U.S. lags the European markets but says the Yanks should soon catch up. It all started with the success of European electronic platforms, from DTB/EUREX and LIFFE. This led to an explosion of inter-dealer business that was dependent on electronic communications tools. In the U.S., the shift to electronic exchanges - such as the ISE and BOX - could spark a similar transformation.

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