-Timber Hill, Integral Derivatives, Wolverine Trading, Morgan Stanley and Susquehanna Securities-
NYSE Amex Options to Add Five Firms to e-Specialist Program
-Adding Liquidity, Increasing Trading Opportunities and Narrowing Spreads for All Customers-
NEW YORK, July 8, 2010 – NYSE Amex options today announced that on Monday, July 12 it will add five new firms to its e-Specialist program that initially began in February 2010. As new e-Specialists in approximately 650 option classes, Timber Hill, Integral Derivatives, Wolverine Trading, Morgan Stanley and Susquehanna Securities will be subject to NYSE Amex options market making conditions and heightened quoting requirements. e-Specialists are off-floor market makers that function alongside traditional Specialists and Market Makers within the exchange’s state-of-the-art hybrid trading platform to provide liquidity across more than 240,000 options series based on 1,932 underlying securities.
“The launch and expansion of the e-Specialist program is another innovative way that NYSE Amex options is working with its order flow providers, customers and market participants to create a uniquely competitive market model,” said Steve Crutchfield , CEO, NYSE Amex. “We are proud to welcome Timber Hill, Integral Derivatives, Wolverine, Morgan Stanley and Susquehanna Securities to the e-Specialist program. This benefits our customers and the broader market by increasing liquidity, enhancing efficiency and creating a diverse, highly-active trading environment for all our customers.”
These firms join the five existing e-Specialist firms of Citadel Securities, Goldman Sachs, UBS Securities, Citigroup Derivatives Markets, and Barclays Capital. NYSE Amex options provides customers with a distinct, customer-driven hybrid marketplace that offers exceptional technology combined with a proven open-outcry trading environment. As one of two competing U.S. options exchanges operated by NYSE Euronext, it provides customers with a valuable platform to trade options with reliability, transparency and efficiency. NYSE Euronext's U.S. options exchanges, NYSE Arca and NYSE Amex options utilize industry leading open outcry trading facilities with an advanced electronic trading platform capable of processing 400,000 orders and 3,500,000 quotes per second with 2 millisecond acknowledgment (ACK) times.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
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