SEC Approves BOX Options To Run US Exchange - Bloomberg
First Published Saturday, 28th April 2012 10:33 pm - © 2012 Dow Jones
Dow Jones NEWSWIRES
BOX Options Exchange LLC, owned by TMX Group Inc. (X.T) and seven brokers including Citadel LLC and Interactive Brokers Group Inc. (IBKR), won approval to become a U.S. securities exchange, Bloomberg News reported late Friday on its website.
TMX Group, which owns 53.8% of parent company BOX Holdings Group LLC, will limit its equity stake in the entity registered with the U.S. Securities and Exchange Commission that will operate the market, to 40% and its voting share to 20%, according to Bloomberg. Interactive Brokers will have 20% of BOX Holdings. Citadel, Citigroup Inc. (C), UBS AG (UBS) and Credit Suisse Group AG (CS) will each own between 3.99% and 4.2%.
BOX, introduced in 2004, currently uses the exchange license of Nasdaq OMX BX, owned by Nasdaq OMX Group Inc. (NDAQ), to run its options market, Bloomberg said.
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