PEAK6 To Open Trading Post On Pacific Exchange

The Pacific Exchange (PCX) today announced that Chicago-based PEAK6 will become a Lead Market Maker in more than 500 options issues this summer. The firm named Rob Kovell, a former Vice Chairman of the PCX Board of Governors, as its head trader on the West Coast options market.

"This move allows PEAK6 and the Pacific exchange to improve quality in the options markets," said PEAK6 CEO Matt Hulsizer. "The PCX offers us a chance to partner with an exchange that shares our desire to provide customers with the highest levels of service, speed, and consistency at a low price."

"We're obviously delighted to welcome PEAK6 to the Pacific," said Philip D. DeFeo, PCX Chairman and CEO. "We're in a period of consolidation in the industry, with fewer firms making markets on multiple floors. Recruiting a new firm with the stature, experience, and credibility of PEAK6 is a significant accomplishment."