Source: BOX Options Exchange
The BOX Options Exchange announced today it has received SEC approval to launch its Complex Order Book on Friday, May 3, 2013.
“With the addition of the Complex Order Book, BOX will be the first exchange to offer NBBO protection for complex order executions,” said Tony McCormick, CEO of BOX. “BOX has a high customer demand for this type of execution capability as it gives participants the ability to trade complex orders inside BOX’s unique market structure.”
The BOX complex order technology supportsimplied out pricing for all two leg orders, while the standard book supports up to four separate leg components. Implied pricing and NBBO protections in the BOX Complex Order Book assures customer orders the highest probability of execution and price protection.
“BOX’s technology partner, TMX, was an integral part of making the Complex Order Book a reality,” said John Goode, head of technology at BOX. “TMX was able to translate BOX’s vision into an execution model with speed and simplicity of use.