Ms. Sheldon is in her second year of the NYSE Business Analyst Program. She works for both NYSE Amex Options and NYSE Arca Options on a variety of...
Members of NYSE Amex Options team and others ring bell to celebrate first day of trading in new headquarters
March 2nd 2012, marks the 3rd anniversary of NYSE Amex Options on the NYSE floor. For many of us here it’s hard to believe how fast that time has passed. It seems just yesterday Duncan Niederauer, NYSE Euronext’s CEO, was welcoming Amex at a press conference right after Amex’s first open on its new floor. At that time, Duncan cited that 80 percent of Amex’s business was open outcry and only 20 percent was electronic. He stated that he hoped to see those figures reversed in future as Amex had scrapped its aging trading platform and migrated onto NYSE technology. He went on to predict that “between NYSE Arca and NYSE Amex we expect to get consistently between 20 percent and 25 percent market share. That number is now between 17 percent and 18 percent. The next step is 20 percent. Hopefully, by the end of this year or a year from now, if we are close to 25 percent, we would have really established ourselves.”
Since that inaugural press conference, NYSE Amex Options has shared both ups and downs. In 2011, NYSE Amex Options received the accolade of Options Insider’s Exchange of the Year. Also, many of Duncan’s predictions have come true. Thanks to a successful migration onto UTP, Amex has once again been able to compete for business from firms that value speed; now 80 percent of Amex’s business is electronic. Furthermore, with the benefit of a compelling dual market structure that provides all participants with the choice of NYSE Arca Options (featuring price-time priority) or NYSE Amex Options (with customer priority and free customer executions), NYSE Euronext is firmly established in the US Options space. Combined market share between the two exchanges has remained over 25 percent for the past 12 months, accomplishing the goal that Duncan set 3 years ago.
NYSE Amex Options is not done growing. This year Amex looks to increase its complex order book, expand functionality for its customers and innovate in new product development. We thank everybody who has contributed to Amex’s success so far and look forward to another year of progress and another anniversary!
NYSE Amex Options LLC, Founding Firms on the floor of the Exchange