Breaking News

Tag Archives: ISE Gemini

OCC Cleared Contract Volume Increased 20 Percent in November; Citi Said to Weigh Derivative Desk Move to Frankfurt on Brexit; Traders are betting that volatility is about to spread Newsletter,Options

Observations & Insight The View from Convergex: Reinvention, Options and Market Structure Spencer Doar – JLN It may come as a surprise that Convergex, the agency brokerage with headquarters in New York, has a hand in approximately 20 percent of all options routed through U.S. listed options exchanges and actually executes some 8 percent of daily options volume. The company has been reinventing itself over the last two-and-a-half years under the leadership of Eric Noll, who became CEO in the wake of a 2013 settlement. Convergex’s reputation took a hit when it admitted it had defrauded customers by inflating its…

Let Me Count the Ways: Nasdaq Looks at All the Possibilities for Options, and Beyond, in ISE Acquisition Blog,Options

With double the number of US equity options exchanges, Nasdaq has some work to do in the coming months. Nasdaq closed the deal today for $1.1 billion with Deutsche Boerse, giving the exchange three options markets: International Securities Exchange, ISE Gemini and ISE Mercury, to go along with Nasdaq Options Markets (NOM), Nasdaq OMX BX and Nasdaq OMX PHLX. Tom Wittman, executive vice president of Nasdaq and global head of equities at Nasdaq, told John Lothian News that the plan is to integrate and migrate the three exchanges onto the Nasdaq platform. That essentially means the technology team at Nasdaq…

Let Me Count the Ways: Nasdaq Looks at All the Possibilities for Options, and Beyond, in ISE Acquisition Blog,Options

With double the number of US equity options exchanges, Nasdaq has some work to do in the coming months. Nasdaq closed the deal today for $1.1 billion with Deutsche Boerse, giving the exchange three options markets: International Securities Exchange, ISE Gemini and ISE Mercury, to go along with Nasdaq Options Markets (NOM), Nasdaq OMX BX and Nasdaq OMX PHLX. Tom Wittman, executive vice president of Nasdaq and global head of equities at Nasdaq, told John Lothian News that the plan is to integrate and migrate the three exchanges onto the Nasdaq platform. That essentially means the technology team at Nasdaq…

John Lothian Newsletter: Swiss Franc Shock Spurs CME to Change Rules on Emergency Halts; New York Prosecutor Expands ‘Dark Pool’ Complaint Against Barclays; Traders Once Starved for Volatility Now See Too Much John Lothian Newsletter,Newsletter

First Read The World Is Flat: ISE’s Boris Ilyevsky Talks PIM And New Flat Auction Pricing Sarah Rudolph – John Lothian News In October, seven options market making firms sent a letter to the SEC outlining their concerns about “the growing trend of exchanges imposing oversized transaction fees on market makers” competing in auction crosses. The firms said they were disadvantaged by the current structure in which internalization is encouraged by the use of a “breakup fee” that keeps market makers from competing with “initiators” of the auction. The International Securities Exchange (ISE) responded to the debate over price improvement…

The World Is Flat: ISE’s Boris Ilyevsky Talks PIM And New Flat Auction Pricing Interview,Options

In October, seven options market making firms sent a letter to the SEC outlining their concerns about “the growing trend of exchanges imposing oversized transaction fees on market makers” competing in auction crosses. The firms said they were disadvantaged by the current structure in which internalization is encouraged by the use of a “breakup fee” that keeps market makers from competing with “initiators” of the auction. The International Securities Exchange (ISE) responded to the debate over price improvement mechanism (“PIM”) auctions by announcing a flat pricing structure for PIM auctions on ISE Gemini, where both PIM initiators and responders will…

JLN Options: CBOE To Introduce Mini-SPX Options With PM Settlement; Nasdaq Glitch Prompts Trading Halt in Some Markets; Equity Fund Flows on Track for Biggest Rise Since 2000 Newsletter,Options

Observations & Insight Launch Dayby Doug AshburnTuesday is apparently launch day in the options world. CBOE announces a new PM-settlement Mini-SPX, to replace the AM counterpart. We continue getting mileage out of Gemini-related launch puns with the announcement from ISE that it just added a third block of products listed on its secondary options platform. ASX is launching a new volatility contract, and Eurex and Vienna Stock Exchange move forward on their listing agreement. And, the U.S. equity market continues its launch into record territory, to the extent that the VIX is experiencing a rare rally-on-rally. We kick off today’s…

Options’ Glass is Half Full: Gary Katz Says Industry is Doing Well Interview,Options,Video

Gary Katz

Gary Katz, president and CEO of the International Securities Exchange (ISE), has seen the options markets change dramatically since he co-founded the all-electronic options exchange in  2000. His exchange launched ISE Gemini in August, representing the 12th US options exchange. Katz sat down with JLN editor-in-chief Jim Kharouf to talk about where the US equity options business is today, why almost flat volumes isn’t a bad thing, and how this industry can keep growing, even in a low volatility, low interest rate environment. WATCH: Gary Katz Says ISE Gemini Off to Fast Start. In the first three quarters of 2013, US…

JLN Options: VIX Climbs with Stocks; Hedge funds hunger for lost oil volatility; Has the Market Gotten Greedy? Newsletter,Options

Observations & Insight Editorial Optionsby Doug Ashburn, John Lothian News Regular readers of JLN Options know that options editor and company CIO Jeff Bergstrom has fled the country and crossed the pond for a few days in London and Paris. In his absence, duties will float around the company. Today you get me. In volatility news, the VIX actually rose on a rally yesterday, but then rose even more on today’s break. Sometimes it’s not a gauge of fear, but rather one of actual or expected price action. In fact, I argue below that the “fear vs. greed” debate is…

Born Under a Good Sign: Gary Katz Says ISE Gemini Off to Fast Start Interview,Options,Tech / HFT,Video

Gary Katz

Gary Katz, president and CEO of the International Securities Exchange (ISE), has seen the options markets change dramatically since he co-founded the all-electronic options exchange in  2000. Now with the launch of ISE Gemini in August, the ISE is looking to add another exchange model that differs from the flagship exchange. Gemini also represents the 12th US options exchange. Katz sat down for this video interview with JLN editor-in-chief Jim Kharouf to talk about the new exchange, which garnered two percent marketshare of the total industry options volume in its first month. The exchange also rolled out the first 300…