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TOM MTF has today traded the ten millionth option contract on its platform. In 1.5 years TOM was able to generate a market share of over 25% of the total Dutch options market. Since TOM obtained a license to trade options in 2011 volumes continued to grow to over 1.2 million option contracts last month.
This rapid growth is mainly due to the Smart Order Router TOM Smart Execution, which compares prices between exchanges faster than a blink of an eye. TOM Smart Execution then executes the order against the best available price. By use of the Smart Order Router customers saved on average EUR 17.76 in July 2013 per executed order that showed a price improvement.
Besides volume growth, the open interest on TOM MTF has increased sharply. End of July 2013 the open interest on TOM MTF was more than 1.4 million option contracts, a clear indicator of the quality of the market.
TOM also changed the ticker symbols of index options, based on the index, to XNL last month. Customers embraced the name change and the TOM market share in XNL options remained high at 34% last week.
Willem Meijer, CEO of TOM: "We are very pleased that more and more national and international trading firms are connecting to our platform. This allows TOM’s current growth to continue and quickly reach new milestones, such as trading the ten millionth option contract that we celebrate today. This development shows that competition between exchanges is welcome and leads to more innovation and lower prices for customers."
