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SEC APPROVES NASDAQ OMX GROUP’S OPTIONS MARKET PLAN
Posted March 12, 2008
NEW YORK -- The Nasdaq OMX Group Inc. (symbol: NDAQ) has received SEC
approval for rules associated with its plans to launch an equity and
index options market, the Nasdaq Options Market on March 31.
“This is a welcome development which will allow NASDAQ OMX to pursue
its organic options market strategy,” says Chris Concannon, Executive
Vice President, Nasdaq Transaction Services, Nasdaq OMX Group. “We will
bring customer choice via our price/time model to options trading in a
penny environment. This market will complement our planned acquisition
of the Philadelphia Stock Exchange.”
The Nasdaq Options Market promises to be a fully automated, price/time priority market with an opportunity for price improvement that provides a level playing field to all participants. It will also provide routing services to orders when there is no trading on the Nasdaq Options Market.
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