Electronic link connects US options exchanges
31 January 2003 | 1207 views | 0
The International Securities Exchange (ISE) has announced that all five US options exchanges have implemented the first phase of an electronic linkage system that will allow orders to be routed between exchanges.
The intermarket link represents the culmination of five exchanges working together to develop order-routing rules and technological specifications governing the use of a centralised hub that is capable of rapidly routing orders among exchanges.
Paul Bennett, ISE's senior vice president of market operations, says: "To investors and order-flow providers, linkage will be totally transparent and help to insure customers get the best price no matter where the order was originally sent."
The Options Clearing Corporation will operate the linkage hub. The first implementation phase includes options on 14 individual stocks, with more options to be included within the next months.