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.

 

   
     

Questions or comments? Get in touch with us at info@globalinv.com

© 2005-2008 Investment Media Inc.