Boston Options Exchange CEO Tony McCormick has told FOW he is keen to see TMX Group’s controlling stake in the bourse reduced.
"The relationship is difficult from a regulatory point of
view," said McCormick. "And we get no benefit whatsoever in
terms of order flow." The Canadian exchange group, which
operates the Toronto Stock Exchange and Bourse de
Montréal, owns 54% of the US options platform.
"We’re looking to the retail sector to
diversify our shareholding," McCormick stated.
Volumes have remained sluggish on the exchange. Some 8.3m
contracts were traded last month, giving Box a 2.7% market
share. Year to date volumes are down 44.7% on 2009.