Nasdaq Prevails in Options
Traders Magazine, April 2008
Nasdaq OMX, after a yearlong back-and-forth with the Securities and Exchange Commission, won the regulator's approval for its options market last month. The effort to establish the Nasdaq Options Market (NOM) was not without its setbacks. Nasdaq initially petitioned the commission for seven order types, including two controversial types. In the end, it got six, forfeiting a "non-displayed" order. Due to complaints from the American Stock Exchange and Citadel Investment Group, which operates one of the largest options market-making firms, Nasdaq dropped its request for the hidden order type.
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