TradeStation Securities, Inc. (Member NASD, SIPC & NFA), the award-winning securities broker-dealer and futures commission merchant and the principal operating subsidiary of TradeStation Group, Inc. (NasdaqNM: TRAD), today announced that it has received membership approval for, and has purchased a seat on, the Chicago Board Options Exchange (CBOE).
Its membership will allow TradeStation to directly trade options on the exchange. CBOE is one of six major options exchanges in the United States. Joseph Nikolson, President and Chief Operating Officer of TradeStation Securities, will be the designated membership representative on behalf of TradeStation.
The membership enables TradeStation to complete connectivity of its award-winning TradeStation 7 platform with the CBOE for electronic execution of options trades. This is an important step towards the expected launch of TradeStation's electronic options trading through its platform, which is scheduled for the first half of this year.
TradeStation recently received membership approval for the Philadelphia Stock Exchange (PHLX), the Pacific Exchange (PCX) and the International Securities Exchange (ISE) and also expects to offer connectivity for trade execution to those exchanges. TradeStation is in the process of obtaining membership from the Boston Options Exchange (BOX) and the American Stock Exchange (AMEX) so that connectivity for electronic execution of options trades can be made with those exchanges as well.