EUREX, ISE, OCC COLLABORATE ON OPTIONS MARKET CONNECTIONS
Posted March 12, 2008
“This connection will significantly broaden the distribution of the
approximately 2,000 options products currently traded at ISE,” says Gary
Katz, Chief Executive Officer, ISE. “We are excited to extend our reach
internationally to Eurex's global customer base. As a result of the
link, ISE members will also benefit from interaction with a new set of
order-flow providers who will deepen the liquidity pool on our
exchange.”
The link will give Eurex members access to the full suite of options
products available at ISE. They will be able to execute orders in the
ISE order book using their existing connectivity to Eurex.
“By establishing the first modern trans-Atlantic trading and clearing
link between the US and European options markets, our customers will
benefit from full and seamless access to the world's largest equity
options market,” says Andreas Preuss, Chief Executive Officer of Eurex.
“Eurex’s established trading and clearing distribution will greatly
simplify
Reaching a preliminary agreement with the OCC, the central counterparty
for all US listed securities options contracts, is a first step toward a
final agreement to allow Eurex customers to clear contracts traded via
the ISE link through their existing clearing accounts at Eurex Clearing.
Eurex, The trans-Atlantic link will likely be implemented by the second
half of 2009, subject to regulatory approvals.
“This link will expand distribution and increase the reach of the options product,” says Wayne Luthringshausen, Chairman and Chief Executive Officer of the OCC. “Non-US market participants will now find it easier to trade and clear US products that will be offered through this link.”