The shift in PMM assignment follows the conclusion of a PMM lease between Timber Hill, LLC, a subsidiary of Interactive Brokers Group LLC, and Adirondack Trading Partners, which owns AEM. Timber Hill began trading as PMM in bin 4 on September 28, 2000.
"We are pleased that AEM is expanding their operations on ISE. We are confident that they will provide the same high caliber of market quality long associated with Timber Hill's tenure as bin 4 PMM," said Gary Katz, ISE's Chief Operating Officer.
Timber Hill will continue to serve as bin 7 PMM and also as CMM in bins 1, 2, 3, 5, 6, 8, 9 and 10. AEM serves as PMM in bin 3 and as Competitive Market Maker (CMM) in bins 1, 2 and 10.
Adirondack Trading Partners is one of ISE's founding members, while AEM has served as PMM in bin 3 since ISE opened for trading on May 26, 2000. Bin 3 has consistently been recognized for its customer service, attracting high percentages of customer order flow, and for attracting and maintaining high market share. Bin 3 includes some of the options industry's most actively traded options classes, including International Business Machines (IBM), Johnson & Johnson (JNJ), and Home Depot Inc. (HD).
