CBSX Utilizing OES MarketGroup for Outbound Routing.NEW YORK & CHICAGO -- OES MarketGroup today announced that CBOE CBOE See: Chicago Board Options Exchange CBOE See Chicago Board Options Exchange (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 New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange ), American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. and NASDAQ Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. listed securities, as well as Exchange Traded Funds Exchange Traded Funds (ETF) Also known as ETF. A basket of stocks similar to an index mutual fund. However, there are a number of important differences between ETFs and mutual 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." About OES MarketGroup Order Execution Services Holdings, Inc. (www.tradeOES.com), through its wholly-owned technology and broker-dealer subsidiaries, provides seamless electronic market connectivity, liquidity access and rapid executions by linking broker-dealers, trading systems, exchanges and market centers. As an innovative securities industry leader, OES specializes in direct market access and smart order routing, Reg NMS See NetWare Management System. and MiFID compliance tools, sponsored market access, advanced algorithms, agency execution and private inter-market linkages. OES maintains offices in Princeton, Newark, Chicago, Los Angeles, Stamford, and Luxembourg. About CBOE Stock Exchange The CBOE Stock Exchange, LLC (CBSX) offers trading in more than 6,500 equities, as well as exchange traded funds (ETFs) listed on U.S. securities markets. The exchange operates as a facility of Chicago Board Options Exchange Chicago Board Options Exchange (CBOE) A securities exchange created in the early 1970s for the public trading of standardized option contracts. Primary place for the trading of stock options, foreign currency options, and index options (S&P 100, 500, and OTC 250 index) (CBOE) and uses CBOE's technology platform, which enables options traders to reduce the cost of equity trading. For equity traders, CBSX provides the opportunity to trade directly with CBOE's equity options order flow. Established in 2007, CBSX (www.cbsx.com) is owned by CBOE and a consortium of financial entities. CBOE, the largest U.S. options exchange and creator of listed options, continues to set the bar for options trading through product innovation, trading technology and investor education. CBOE offers equity, index and ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). options, including proprietary products, such as options on the S&P 500 Index (SPX (Sequenced Packet EXchange) The transport layer protocol in the NetWare operating system. Similar to the TCP layer in TCP/IP, it ensures that the entire message arrives intact. SPX uses NetWare's IPX as its delivery mechanism. ) and on the CBOE Volatility Index CBOE Volatility Index See VIX Index. (VIX VIX The implied volatility on the S&P 100 (OEX) option. This volatility is meant to be a forward looking volatility. It is calculated from both calls and puts that are near the money. The VIX is a popular measure of market risk. ). CBOE Stock Exchange[R] and CBSX[R] are registered trademarks of CBOE Stock Exchange, LLC. CBOE[R] and Chicago Board Options Exchange[R] are registered trademarks of Chicago Board Options Exchange, Incorporated. CBOE is regulated by the Securities and Exchange Commission (SEC), with all trades cleared by the AAA-rated Options Clearing Corporation. This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement. [c]2009 Order Execution Services Holdings, Inc. All rights reserved. OES MarketGroup is a registered trademark in the U.S. and Europe. |
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