U.S. Equity Options Exchanges directory
| Company | Description of Services | What types of options are traded? | Daily Volume | When did the exchange go fully electronic? | Describe how the hybrid model works, if applicable | What technology is used to trade options? | Describe new products or services planned | Describe new technology planned |
 | | | | | | | | |
| American Stock Exchange Launched in 1975 Michael Bickford 212-306-1000 amexfeedback@amex.com www.amex.com | An options hybrid marketplace offering trading of more than 1,900 options on equities, indexes and ETFs. | Equity, index, ETF, equity flex, index flex, ETF flex. | Average daily volume: 800,000 contracts. Total volume for 2005*: 202 million. | The American Stock Exchange is not a fully electronic exchange. | N/A | Fixed return options (binary or digital options on equities or ETFs), Price Improvement Auction or PIA (the potential for price improvement for all inbound customer orders). | In the equity and ETF business, a Reg NMS-compliant hybrid system, Auction and Electronic Market Integration (AEMI). | |
| Boston Options Exchange Launched in 2004 Alan Grigoletto 312-310-5005 grigoletto@bostonoptions.com www.bostonoptions.com | BOX is a fully automated equity options exchange. | BOX presently lists 501 equity option classes. The exchange lists options on several ETF classes. | Average daily volume for October 2005: 454,184 contracts. Total volume for 2005*: 78 million. | BOX is fully electronic and has been so since inception. | BOX employs NSC trading software licensed from ATOS-Euronext and operated under a facilities management agreement (using dedicated BOX hardware) by the Montreal Exchange. The open API allows participants to interface their order routing and trading software to the trading engine. | BOX currently plans to expand its list of classes to 600. In addition, BOX will release an updated version of its spread book. | N/A | |
| Chicago Board Options Exchange Launched in 1973 312-786-5600 www.cboe.com/AboutCBOE www.cboe.com | The Chicago Board Options Exchange (CBOE), the first U.S. options exchange and the creator of listed options, is the world's largest options marketplace. | Equity options, index options, "weeklys" (short-term options), long-term equity anticipation securities (LEAPS), FLexible EXchange (FLEX) options, options on exchange-traded funds and HOLDRs, interest rate options, structured products options. | Average daily volume: 1.9 million contracts. Total volume for 2005*: 468 million. | Hybrid Trading System launched in 2003. | CBOEdirect, a highly adaptable trading engine built in-house. CBOE owns this technology, which is used as the trade engine for CBOE's Hybrid, CBOE Futures Exchange and OneChicago. | Please visit www.cboe.com for announcements of new products as they are launched. | The Hybrid Trading System is continually enhanced as technological advancements become available. | |
| International Securities Exchange Launched in 2000 Boris Ilyevsky 212-897-0242 bizdev@iseoptions.com www.iseoptions.com | ISE is the world's largest and fully electronic equity options exchange. | Equity, ETF and index options. | Average daily volume: 2.1 million contracts. Total volume for 2005*: 449 million. | Fully electronic from inception. | OMX CLICK exchange platform. | N/A | N/A | |
| Pacific Exchange Launched in 1882 415-393-4000 info@archipelago.com www.pacificex.com | The Pacific Exchange trades options on more than 1,800 stocks and ETFs with 2005 year-to-date average daily volume nearing 600,000 contracts. In September 2005, the Pacific Exchange was acquired by Archipelago Holdings. | Stocks and ETFs. | Average daily volume for November 2005: 804,000 equity options contracts. Total volume for 2005*: 145 million. | N/A | PCX Plus. | In December 2006, Archipelago announced the creation of a new options platform, which will replace the PCX Plus trading system. It will be designed to offer significant improvements in trading system performance, functionality and reliability. | The new trading system uses components and processes currently in use by ArcaEx's equity trading system and will integrate relevant functionality of the existing PCX Plus system. | |
| Philadelphia Stock Exchange Launched in 1790 1-800-84-37-459 www.phlx.com | The PHLX trades 2,000 stocks; 1,926 equity options; 26 sectors index options; and currency options and futures. | N/A | Average daily volume: N/A Total volume for 2005*: 163 million. | N/A | N/A | N/A | N/A | |
| The NASDAQ Options Market March 31, 2008 800-846-0477 Sales@NASDAQOMX.com http://www.nasdaqtrader.com/Micro.aspx?id=OptionsMarket | The NASDAQ Options Market is a fully electronic options exchange which trades equity, ETF and index options. NASDAQ OMX operates several exchanges worldwide, including the NASDAQ Stock Market, which trades more shares per day than any other U.S. market. | Equity, ETF and index options. | 2008 | The NASDAQ Options Market provides an efficient and reliable price/time priority trading system and was built on the proven INET technology platform. The system is accessible via FIX, NOMAD, and OTTO. | ||||
| The NASDAQ Options Market Monday, March 31, 2008 800-846-0477 Sales@NASDAQOMX.com http://www.nasdaqtrader.com/Micro.aspx?id=OptionsMarket | The NASDAQ Options Market, a fully electronic options exchange, trades equity, ETF and index options. NASDAQ OMX operates several exchanges worldwide, including the NASDAQ Stock Market, which trades more shares per day than any other U.S. market. | Equity, ETF and index options. | The NASDAQ Options Market provides an efficient and reliable price/time priority trading system and was built on the proven INET technology platform. The system is accessible via FIX, NOMAD, and OTTO. |
