| NYSE Arca last month introduced a new automated trading system for equity options. The new NYSE Arca Options platform offers immediate electronic order execution in all of the nearly 2,000 options issues currently traded on NYSE Arca and provides open access, cost-effective trading and a technologically advanced system for all market participants. It replaces PCX Plus.
“The NYSE Arca Options platform gives us the opportunity to introduce a system that we believe gives investors superior functionality, reliability and order-execution capabilities,” said NYSE Group Senior Vice President Matt Gelber. “The launch of NYSE Arca Options is a first step in becoming a leader in options trading, which supports the NYSE Group’s goal of being the market of choice for all investors, issuers and market professionals by offering the most comprehensive products and services based on the most innovative technologies.”
The newly developed NYSE Arca Options system provides automatic executions for customer and broker-dealer orders as well as a low-cost venue for both lead market makers and market makers to stream quotes from the trading floor or remotely. The system includes expanded and innovative order types along with greater transparency, speed and reliability. The NYSE Arca Options platform began to be phased in on Aug. 7 with the migration of 10 options issues from the PCX Plus platform.
For more information please visit: http://www.nyse.com/options.
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