THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 23 18 - 24 JULY 2013 www.wallstreetletter.com
IN THIS ISSUE News People moves 04 Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
Arca to alter priority rules for open outcry
Bids and offers from market makers and floor brokers may soon have priority over those of non-customers TURN TO PAGE 05
EBS supports EM growth with Internet Ai
BY JEANENE TIMBERLAKE
More options exchanges see fall in June volume
More than half of all US options exchanges saw volumes decline in June along with overall options transaction volume, according to data from the Options Industry Council earlier this month TURN TO PAGE 07
BOX changes billing on trade management software, connectivity
Specifically, the exchange said it would no longer charge members to access the back office trade management software TURN TO PAGE 09
Last week’s launch of Internet Ai by EBS, the electronic spot FX trading system run by ICAP, is intended to support the growth of EBS in certain emerging markets, according to comments from Nichola Hunter, co-head of EBS Market, who spoke to WSL. Internet Ai provides an application programming interface connection for clients looking to connect to EBS Market and the recently launched EBS Direct. “The Internet Ai connection offers a less expensive way for firms to access EBS venues due to the fact that they don’t
need to set up their own infrastructure or lease rack space in co-location facilities and a cross connect to EBS’ Ai gateways,” said Hunter. The need to co-locate in a hosting facility was a barrier to entry for some clients wanting access to emerging markets, she added. “We have had substantial growth in Russian rubles, and algorithmic trading in the Russian markets is popular. But in order to onboard clients in the ruble it was necessary for them to set up in London and TURN either go to a co-location TO PAGE facility or secure a lease line,” she explained. 03
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