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Screenshot of a breaking news alert e-mail from Q2 2017
BATS Global Markets (BATS), an international operator of exchanges and provider of services for financial markets, has been granted approval from the U.S. Securities and Exchange Commission (SEC) to launch its second options market – EDGX Options.
Members can commence connecting to the new market on August 17, 2015, with BATS planning to open the new market on November 2, 2015.
EDGX Options will be based on a customer priority/pro rata allocation model and is set to complement its BZX Options market, which had a 10.8% market share in July.
“We are pleased to receive approval from the SEC to launch EDGX Options and we are looking forward to making our mark in a new segment of the options market,” said Bryan Harkins, Executive Vice President and Head of U.S. Markets at BATS.
“Two-thirds of U.S. options market volume is executed on exchanges with a pro rata model and we believe we can help make markets better for participants in this segment of the market through our innovative technology, operating efficiency, market-leading pricing, and first-class customer service.”
EDGX Options will be located in the Equinix NY5 data center along with the other BATS U.S. equities and option markets, as well as recently acquired institutional Forex ECN, Hotspot.
BATS expects that all of the industry’s multiply-listed options will be available for trading on EDGX Options.
To view the official announcement by BATS, click here.