- MIAX News
BATS Options Joins The Options Industry Council
Chicago—March 17, 2010
BATS Options has become a member of The Options Industry Council (OIC). BATS Options joins the member firms and other options exchanges cleared by OCC in helping promote the responsible use of equity options through education.
OIC members including Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, The Options Clearing Corporation and now BATS Options work together to provide investors a range of materials to better understand equity options.
“We are delighted to join the OIC on the heels of the successful launch of BATS Options,” said Jeromee Johnson, Head of BATS Options and vice president, market development. “In keeping with BATS’ mission of Making Markets Better, we strongly support initiatives that help all types of investors to increase their understanding of markets, and we look forward to contributing to the OIC’s educational efforts.”
"It is a great pleasure to welcome BATS Options as an OIC member," said Gina McFadden, OIC's President. "The increased interest in OIC programs for retail investors and financial advisors over the past year reflects a thirst for knowledge about the options product. We're excited that BATS Options will be part of developing offerings to satisfy that interest."
BATS Options launched on February 26 and, similar to BATS Exchange, offers highly efficient technology with simple, transparent pricing. In just four years, BATS Exchange has captured 10-11% market share in US equities while BATS Europe, operating as a pan-European multilateral trading facility (MTF), currently executes 8-9% of the FTSE 100 and 4-5% of the European market overall. The company also plans to launch a second US equities exchange, BYX, in early summer 2010.
BATS Global Markets (BATS) is an innovative global financial markets technology company headquartered in the Kansas City, Mo., area with additional offices in New York and London. The BATS platform was launched in January 2006 and, operating as BATS Exchange, Inc., is a premier destination among the top ranked equity markets in the United States. BATS serves the European market through its London based, FSA-authorised subsidiary, BATS Europe, which operates a Multilateral Trading Facility for European securities. Most recently, BATS launched a US equity options market, BATS Options, and expects to launch a second US equities exchange, BYX, in early summer 2010. The BATS platform is internally developed by a dedicated core team of market and technology professionals, catering to the needs of the broker-dealer and trading community. BATS … Making Markets Better.
OIC is an industry cooperative funded by BATS Options, Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, and The Options Clearing Corporation. OIC was formed in 1992 to educate investors and their financial advisors about the benefits and risks of exchange-traded equity options. OIC's resources include: The Options Industry Services Help Desk at 1-888-OPTIONS, educational Web sites at www.OptionsEducation.org, www.OptionsEducation.org/advisor and www.OICoptions.com, evening seminars throughout the continental United States and Canada, instructional DVDs and educational literature and software.
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