“SLK-Hull Derivatives has been a strong member of our trading community for many years,” said Meyer “Sandy” Frucher, chairman and CEO of the Exchange. “We have had a longstanding, mutually beneficial relationship with Goldman Sachs that we expect to continue into the future. Though their business plan is taking them in a different direction from the specialist business in Philadelphia, we wish them well.”
With the transfer of the SLK-Hull Derivatives issues, Timber Hill, an affiliate of Interactive Brokers, which has had both specialist and market-making operations at the PHLX since 1994, will now act as specialist in over 300 books at the Exchange.
“We’re very pleased that Timber Hill, who has built one of the most robust specialist operations at the Exchange, is acquiring these books,” continued Frucher.
Thomas Peterffy, Chairman of Interactive Brokers Group LLC said: “Our acquisition will give Interactive Brokers increased ability to broaden its broker-dealer best execution services in the options marketplace.”
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades 2,000 stocks, more than 1,400 equity options, 15 sectors index options, and currency options and futures. For more information about the PHLX and its products, visit www.phlx.com.
