A small follow up on the play offs for primary market makers in half a dozen stock options. It was announced in October and held during December and January. With rival option exchange TOM capturing a lot of market share amidst shrinking volumes, quoting tight on Euronext is getting a little bit yesterday’s game. Quoting the tightest [...]
A small victory for The Order Machine / TOM. Conform all expectations, NYSE Euronext is forced to allow TOM as a member on their derivative exchange. Even Euronext saw the rain coming, and agreed to accept TOM as a member of the exchange. Didn’t even bother to wait for the court. The expensive legal procedures [...]
I confess, in the light of the current market crisis and US downgrade this isn’t the most spectacular news. Market makers have been competing for the primary market maker (pmm) licenses in a few stocks. This head to head competition is always interesting, as the market maker with the best quoting performance is selected. But [...]