Commentary

Marianne Brown
Traders Magazine Online News

The Surprising Factor Financial Firms Need to Invest in To Accelerate Growth

When it comes to people, a firm's success relies on more than just the top contributors to the bottom line, according to FIS. In its latest report, shared with Traders Magazine, the firm says it actually found firms that are prioritizing investments in digital expertise are growing nearly twice as fast as their peers.

Traders Poll

In your opinion, what is the biggest hurdle facing the blockchain?

Cost of implementation

17%

Too many systems available

23%

Not applicable to my business

3%

Uncomfortable with the technology

33%

Nobody else is using it

23%

Free Site Registration

October 1, 2012

Navigating the Noise

MEB and ISE Join to Help Traders with Multi-Leg Trades

By Peter Chapman

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.

Developed by MEB, the service is called "Spread Crawler." It scans the complex order books of six exchanges: NYSE Amex, NYSE Arca, the Chicago Board Options Exchange, C2, ISE, and Nasdaq OMX Phlx. The object is to locate quotes appropriate for the trader. Because there are a lot of unhelpful orders on these books, it can be time-consuming for traders to sift through them, according to Jason Stamer, a manager in MEB's business development department.

"This manages the market data for the complex order books out there," Stamer explained. The subscription service went live in September and is being managed and marketed by ISE. Users log onto the service on ISE's Web site, fill out a trading wish list, and then wait for an instant message with quotes. Once they receive the data, they can then trade where they choose. They don't have to trade with MEB or at the ISE. Spread Crawler is strictly an information service. It is not trading technology. MEB customers have been using it for the past three years. The ISE will market the service to its customers and handle the billing.

"We thought this would be a fantastic way to grow the pie of complex orders by giving more people the ability to filter the information," said Boris Ilyevsky, managing director of ISE Options Exchange, "and enhance our presence and relationships with our customers." ISE has one of the largest complex order books among the exchanges, routinely trading 40 percent of its volume on the book, Ilyevsky said.

Complex, or multi-leg, orders have been one of the fastest-growing sectors of the options business in recent years, according to industry sources.

 

(c) 2012 Traders Magazine and SourceMedia, Inc. All Rights Reserved.
http://www.tradersmagazine.com http://www.sourcemedia.com/