Bats Options completes roll out
24 May 2010 | 1125 views | 0
BATS Global Markets, an innovative global financial markets technology company, announces the successful rollout of all planned securities on the BATS Options platform. BATS Options is the newest U.S. equity options exchange.
With the completion of the Options Symbology Initiative symbol consolidation, the exchange has listed its final set of initial classes. The exchange now has options on more than 2,100 underlying cash equity securities available for trading.
"We are pleased that the rollout of BATS Options has gone well. The past few weeks have seen a smooth technological implementation and a steady increase in users and volume," said Jeromee Johnson, Head of BATS Options and vice president, market development, BATS Exchange.
"From the first announcement of our intention to launch BATS Options, we've provided a clear voice on market structure and flat, transparent pricing. As we continue to gain market share, we will remain focused on Making Markets Better for all participants," he said.
BATS also filed with the SEC to eliminate the requirement for at least one registered Options Market Maker in a particular series before it may be opened for trading on BATS Options. The rule change is effective on May 28th.
"With the elimination of this rule we're taking steps to give investors and traders even greater flexibility and maximum access to the options we have listed. This opens trading on BATS Options to a much broader range of trading and hedging objectives," Mr. Johnson said.
BATS Options went live Feb. 26th, 2010, and set a one-day record of 152,682 contracts traded on Thursday, May 20th. The platform currently has about 50 customers.