NYSE Euronext is planning to sell a "significant" stake in
its NYSE Amex Options business to leading market-makers by the
end of the year, though it will keep a majority
The former American Stock Exchange has agreed "in principle"
on a framework with leading liquidity providers and
market-making firms, including Bank of America Merrill Lynch,
Barclays Capital, Citadel Securities, Citigroup, Goldman Sachs,
TD Ameritrade and UBS.
NYSE Euronext would continue to manage the
exchange’s day-to-day operations, supervised by a
separate board of directors and chief executive.
The deal is intended to enable NYSE Amex Options to offer
customers deep liquidity delivered by many top market-makers.
The options exchange also wants to make other services
available, including facilitating open outcry orders.
"Market participants will benefit from tighter spreads,
deeper liquidity, superior technology, and the distinct market
model of NYSE Amex Options," said Edward Boyle, senior
vice-president of US options at NYSE Euronext, in a
This article is available to subscribers and registered users
Please log in to continue reading.
Not yet registered? Take a free trial.
If you have already taken a free trial you
have ongoing access to the analysis section of FOW.com including this story.
Log in using your details below to read.
Already have an account? |