BOX Trading Floor Approved
SEC Approval for Open Outcry Trading
CHICAGO, Aug. 2, 2017 /PRNewswire/ -- BOX Options Exchange, an innovator in market structure and client services, today announced it has received SEC approval to launch an open outcry trading floor.
"We are very excited to open a new trading floor in Chicago; this venue will enhance the customer experience at BOX, enabling them to trade large and complex orders more efficiently," said Ed Boyle, CEO of BOX Market LLC. "BOX has always been an innovator in the options industry. Customers trading in our new open outcry venue will experience enhanced pricing and superior audit trail functionality."
BOX believes creating an open outcry trading floor will also drive market efficiencies by providing a venue for customers to offer and seek liquidity for large and complex orders. The nature of open outcry transactions lends itself better to larger-sized transactions than the liquidity that is generally available in electronic-only markets. The new BOX trading floor will encourage greater participation in such large trades.
"We are eager to provide this additional functionality to help serve our clients' needs and are grateful to the SEC and its staff for their thorough review of the filing" said Lisa Fall, President of BOX Options. "We welcome this opportunity to bring additional competition to the options market, which we believe will spur further modernization of open outcry trading."
The Exchange anticipates launching the trading floor later this month in the Chicago Board of Trade building.
About BOX: BOX Options Exchange is an equity options market that is jointly owned by the TMX Group and eight broker dealers. BOX was established in 2002 and launched trading in February 2004 as an alternative to the market models in existence at this time. Since inception, BOX has provided its Participants with an efficient and transparent marketplace, cutting edge technology and best price filtering for customer order execution. For more information, see the BOX website: www.boxoptions.com.
SOURCE BOX Options Exchange
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