Gras is groener in LondenThe other day when checking the Euronext excel files for the Primary Market Maker play off, I noticed something strange. A small market maker has completely left the Euronext option market. MMX, a startup consisting of a couple former All Options traders, signed for more than a dozen quoting licenses last year – and it appears they have thrown in the towel when it comes to the options on Royal Dutch, Philips, Fugro etc.

It’s a difficult market, and it wouldn’t be completely unthinkable when a market maker is forced to shut the doors altogether. On the other hand, MMX may feel themselves more comfortable trading outside the Eurozone. ¬†They are listed as market maker for almost a hundred single stock options in London (xls). Usually only with the ever present Timber Hill as company. Sometimes alone, lonely quoting in option classes such as Fresnillo and Barratt Developments – to name but a few. Odd.

Jack
Jack