OES MarketGroup today announced that CBOE Stock Exchange (CBSX) has begun using OES as an outbound order flow router to other venues to meet CBSX's Regulation NMS obligations.
CBSX is using OES's high-speed, low-latency direct connectivity to reach available, better-priced markets, thus enabling options traders and other market participants to obtain best-priced executions at other protected market centers.
"OES provides the benefits of an efficient, innovative routing solution that complements our own CBSX multi-asset trading model," said David Harris, chief executive officer of CBSX. "OES will help CBSX reduce its operating costs and will further enhance routing for market participants, especially those located in Chicago or those who transact combined stock and options orders."
CBSX is a fully electronic, Reg NMS-compliant marketplace offering strict price-time priority for all participants and trading in more than 6,500 of the most actively traded New York Stock Exchange (NYSE), American Stock Exchange and NASDAQ Stock Market listed securities, as well as Exchange Traded Funds (ETFs). OES is an independent provider of comprehensive Reg. NMS-compliant market access solutions, including include sponsored access, smart order routing, advanced algorithms and dark liquidity access.
"We are delighted to be working with CBSX to provide our comprehensive routing solutions to the exchange and help enhance its overall service offering," David Scheckel, chief executive officer of OES MarketGroup, said. "CBSX is emerging as a unique trading venue and is demonstrating its commitment to providing customers a choice in trading equities tied to options order flow. OES is very pleased that the exchange has become part of our growing network of served exchanges and market centers globally."