NEWS
its filing submitted to the Securities and Exchange Commission. Members submitting these orders will have their orders cancelled back to them if they fall in this category, BATS said. The threshold will likely be triggered more often at the 50 cent level based on options trading on the market, BATS posited. If a member wants to execute a multiple price points, a marketable limit order can be submitted, BATS added. OIC 2013
NYSE Technologies enhancing offerings
NYSE Technologies is enhancing a number of offerings, according to Todd Wilemon, managing director, who spoke on 24 April during the Options Industry Conference in Las Vegas. The technology arm of NYSE Euronext is looking to add best quote and trade (BQT), a new Euro options analytics feed, and is soon go live with Social Market Analytics, Wilemon shared during his presentation. The introduction of BQT puts trade and quote data from NYSE, NYSE Arca and NYSE MKT into a combined data feed in an effort to compete with consolidated data feeds offered by rival vendors, according to Tom Watson, product manager, US derivatives market data. The offering will provide the consolidated data at price points more affordable to smaller clients, Watson explained on the sidelines after Wilemon’s presentation. “[BQT is] meant to be a marketwide product customers can use to lower cost,” said Watson. NYSE Technologies is also adding European options to its options analytics feed in response to client demand, Wilemon said, adding that the goal is to take the product global. The offering will initially be on European equity index options, Watson said,
adding that the underlying individual stocks would be added based on client requests. Data from the Australian Securities Exchange, Hong Kong Exchange and Singapore Exchange will likely be added in the future, Watson said. Explaining that Asia is a different animal, with its lower options volumes and liquidity, Watson did not commit to a timeline for adding Asia-Pacific exchanges. Social Media Analytics’ (SMA) deal with NYSE, announced in February, is set to bring sentiment analysis of select social media accounts to NYSE Technologies clients within the next few weeks, according to Wilemon. Watson said it would not have helped traders avoid Tuesday’s social media-related selling blitz due to hacking of the Associated Press’ Twitter account. OIC 2013
Katz’s assessment provided ISE is able to generate enough income from Gemini. “If they can turn a profit, why not have another exchange?” Johnson said, adding that BATS, which operates three US markets, has no plans for a fourth but wouldn’t rule out the possibility in the future. But a trading executive lamented the exchange will not create liquidity but continue to further fragment the pie. “How many do we really need?” he asked. Industry executives are also tiring of payment for order flow, as noted in an earlier WSL report (WSL Online 4/24/13).
WSL POLL
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ISE Gemini plans receive mixed reviews
Industry executives have mixed feelings about plans by the International Stock Exchange to launch ISE Gemini. Though ISE CEO Gary Katz said Gemini will differentiate on pricing structure, comments from ind ????????????????????????=?????%????????
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