BATS Options has become a member of The Options Industry Council (OIC). BATS Options joins the member firms and other options exchanges cleared by OCC in helping promote the responsible use of equity options through education.
OIC members including Boston Options Exchange, Chicago Board Options Exchange, International Securities Exchange, NASDAQ OMX PHLX, NASDAQ Options Market, NYSE Amex Options, NYSE Arca Options, The Options Clearing Corporation and now BATS Options work together to provide investors a range of materials to better understand equity options.
“We are delighted to join the OIC on the heels of the successful launch of BATS Options,” said Jeromee Johnson, Head of BATS Options and vice president, market development. “In keeping with BATS’ mission of Making Markets Better, we strongly support initiatives that help all types of investors to increase their understanding of markets, and we look forward to contributing to the OIC’s educational efforts.”
"It is a great pleasure to welcome BATS Options as an OIC member," said Gina McFadden, OIC's President. "The increased interest in OIC programs for retail investors and financial advisors over the past year reflects a thirst for knowledge about the options product. We're excited that BATS Options will be part of developing offerings to satisfy that interest."
BATS Options launched on February 26 and, similar to BATS Exchange, offers highly efficient technology with simple, transparent pricing. In just four years, BATS Exchange has captured 10-11% market share in US equities while BATS Europe, operating as a pan-European multilateral trading facility (MTF), currently executes 8-9% of the FTSE 100 and 4-5% of the European market overall. The company also plans to launch a second US equities exchange, BYX, in early summer 2010.