Love is all around us this December. Getco buys Knight. NASDAQ buys TOM. Afraid to be alone with Christmas, ICE responds with buying NYSE Euronext. Well, they aren’t really after Euronext nor NYSE : the derivative trading business Liffe is the crown jewel. Time flies. Back in 2000 Euronext was formed with the merger ofRead more
While I was still fact checking TOM’s claim over 20% of the option executions find a better price than Euronext Liffe – something bigger is released. Willem Meijer found a better price for TOM itself. The NASDAQ OMX buys a stake of 25% in TOM with an option to expand its stake to 50,1% (press release).Read more
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
