The NYSE Amex market blends customer priority and size pro-rata allocation with the benefit of an open outcry trading floor in New York to offer traders deep liquidity across listed option contracts. The market also offers CUBE, an electronic price improvement auction system for paired orders of any size. NYSE Amex is part of a dual market structure that combines access to Amex and Arca options through a single integrated technology platform.
Through a dual options market structure, traders and brokers have access to two of the leading U.S. options exchanges through a single technology platform. The NYSE Amex Options pro-rata, customer priority model encourages deep liquidity, while the NYSE Arca Options price-time priority model provides enhanced throughput and encourages market makers to provide investors with the best possible price. Both markets offer choice and flexibility that comes from a mixture of electronic trading and open outcry interaction.