Knight to purchase Competitive Market Maker Trading Rights on ISE
First Published Wednesday, 9 December 2009 from Automated Trader : Exchange News
Knight to become Competitive Market Maker (CMM) on ISE’s options exchange
Gary Katz, President and Chief Executive Officer, ISE: "Knight will bring its advanced trading systems and expertise as a global liquidity provider to its new market making role at ISE."
Knight Capital Group, Inc. (Nasdaq: NITE) and the International Securities Exchange (ISE) have announced that Knight Equity Markets, L.P. will become a Competitive Market Maker (CMM) on ISE’s options exchange, effective in the first quarter 2010. Knight purchased ten CMM trading rights from TD Options, LLC that cover every options class listed on the exchange.
“Knight is developing options market making capabilities as an extension of our equities and fixed income trade execution services for broker-dealers,” said Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group, Inc. “ISE is one of the most advanced, efficient and transparent options markets for investors. We look forward to joining as a market maker and generating additional liquidity for the benefit of all market participants.”
“ISE is very excited to welcome Knight to its family of world class liquidity providers,” said Gary Katz, President and Chief Executive Officer of ISE. “Knight will bring its advanced trading systems and expertise as a global liquidity provider to its new market making role at ISE. As a CMM, Knight will play a key role in providing competitive quotes and deep liquidity for all options products traded on ISE.”
Knight will maintain its Electronic Access Member (EAM) trading rights on the exchange.
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