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As part of the regular series of liquidity reports on the Dutch options market, Markit has released the February 2016 edition.
The introduction of MiFIDII obliges banks and brokers to take all “sufficient” steps in order to achieve the best possible result when executing option transactions for customers. In doing so, the bank or broker needs to decide on which exchanges it makes available to its customers and publish annually the top five list of exchanges on which orders have been executed.
In order to support the market with this process, TOM has published a report which demonstrates which exchange offers the most favourably priced liquidity per option series. The report is based on independent research conducted by Markit, a Nasdaq-listed, leading global provider of financial information services. The report is commissioned by TOM and comprises a comparison between the orderbooks of Eurex, Euronext and TOM.
The February 2016 edition shows, among other things, that over the reported period, equity options on TOM offer the most favourable quotes 71% of the time on average during the trading day, versus Euronext 73% and Eurex 33%.
