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Lesli Fairchild
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What Next for Traders Saying Goodbye to AOL Instant Messenger?

In this exclusive to Traders Magazine, Lesli Fairchild discusses how the DEC 15 shutdown of AOL Messenger will affect traders and what alternatives are out there.

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March 23, 2005

Remote Options Market Making

By Staff Reports

The Philadelphia Stock Exchange is aggressively trying to push ahead by offering remote market making for options through its PHLX XL platform. The expansion of the PHLX XL - which began in 2003 and continued last year with streaming quotes for on-floor players - is an attempt to offer electronic options access at a low price.

PHLX XL officials said traders will be able to make markets without a physical presence on the floor of the exchange. This will help both upstairs firms and liquidity providers, according to Meyer "Sandy" Frucher, Chairman and CEO of the Philadelphia Stock Exchange. "We have seen substantial improvement in our performance measures - size displayed and NBBO - since we rolled out the first phase of streaming quotes last summer, without so much as a hiccup in our systems," he added.