Major news today in the derivatives exchange landscape. The global retail broker Interactive Brokers (IB) will connect to TOM, The Order Machine. The official press release is short on details, but suggested the market share in Dutch options would surpass the 50% for TOM. Depending on the exact details, this could be true. If allRead more
Former director of the AEX Optiebeurs, Alan van Griethuysen, joined the alternative derivative exchange TOM. The news was announced today by the Twitter account of @TheOrderMachine. Usually a rather slow and dull twitter account – TOM is as internet savvy as my grandmother – but this time they brought some news. In their hurry theyRead more
So far for the dogs and gods, back to trading. The alternative exchange TOM has captured a large market share in the options market. Especially in the short term index options, Euronext Liffe lost more than half of their flow to their rival. Futures underlying for options Monthly options on the AEX index are usuallyRead more
The liquidity provider licenses used to be a closed shop at NYSE Liffe. Once a firm was “primary market maker”, quoting all available options in a certain class, they usually could hold on their quoting position forever. These quoting licenses were limited, usually only 3 for smaller stocks to around 5 for the bigger onesRead more
A few weeks ago I noticed The Order Machine, TOM for friends, has been tweaking their statistics a little bit. In the market share of the Dutch option market both Dutch exchanges (Euronext and TOM) decided to leave Eurex out of the equation. Not really correct, but still allowed. This time I’ve checked some otherRead more
