Options on the Nasdaq-100 Index Tracking Stock are the most actively traded options contract in America. The Nasdaq-100 Index Tracking Stock trades under the "QQQ" ticker symbol. The trading will commence on a date to be announced in the near future.
"We are pleased to offer options on the QQQs to our customers. Retail and institutional order flow providers depend on the PHLX for cutting edge, reliable technology as well as responsive specialists and market makers who provide lightning-fast executions in deep, liquid markets," said Meyer "Sandy" Frucher, chairman and CEO of the PHLX.
GPZ Trading LLC (GPZ) was selected by the PHLX to serve as the QQQ specialist. Susquehanna Investment Group (SIG) has entered into an agreement with GPZ Trading LLC regarding options on the Nasdaq-100 Index Tracking Stock. SIG's function will be limited to providing advice to GPZ Trading when needed or requested. Under this agreement, SIG will not have any involvement or interest in GPZ's capital, profits or technology.
GPZ Trading LLC is a national specialist and market making firm with representation on all major exchanges. The company employs more than 70 traders who represent listings of more than 250 stock options and index options. GPZ Trading utilizes cutting edge technology for trading in the electronic environment and risk management systems.
The Philadelphia Stock Exchange, which was founded in 1790 shortly after America declared its independence from England, is redefining the options market in the 21st century. The Exchange's market share has almost doubled year-over-year in the PHLX's 935 listed equity options and 11 sector indexes, which are supported by advanced trading technology. The PHLX, whose members include the largest, best capitalized specialist firms in the global equity derivatives market, is the fastest growing U.S. options exchange.
