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 proceduresRead more
Difficult times for NYSE Euronext. The former monopolist recovered some percentage points in market share against BATS Chi-x, but trading volumes have declined. In the option market the serious competitor TOM is gaining speed – market share of 29% in ASML options last week (pdf). That’s a lot. The old exchange came up with newRead more
Last post I mentioned a few local market makers which left the building. Calimero and Wintrading couldn’t earn a living anymore. Rising costs, higher risks and lower profits. Calimero never had a losing year by the way. Back in the good old days of the open outcry trading the market maker landscape was completely different.Read more
In the option market, the market makers are quoting options to capture a profit from the bid-ask spread. Apart from this, sending bids and offers to the market serves another practical goal. Euronext Liffe is charging less when you are providing liquidity to the market. It’s not unusual for a lot of market makers toRead more
NYSE Euronext has got a twitter account. I’m a follower too, but I never noticed much interesting tweets. While it could have been a fine way to communicate about the regular trading interruptions. Found by accident, Twitter itself brands the exchange as similar to Comedy Central. That’s money well spent, to be branded as aRead more
