The Chicago Board Options Exchange (CBOE) announced that options on the S&P 100 Index (OEX) will begin trading on CBOEs Hybrid Trading Platform on Tuesday, December 9, 2008. CBOEs Hybrid will enable multiple, competing quotes and high-speed electronic executions for OEX market participants and customers, in the product that introduced index options trading over 25 years ago. Additionally, the Exchange announced that Citigroup, Inc. has been appointed the Lead Market Maker (LMM) for OEX and XEO options.
As the Lead Market Maker (LMM) for OEX and XEO options, Citigroup will provide continuous, two-sided, competitive markets both electronically and on the open-outcry trading floor. The quotes will pertain to all OEX and XEO option classes, including Weekly, Quarterly and LEAPS series. Citigroup is a long-time member firm of the Exchange and currently serves as a Designated Primary Market Maker (DPM), an Electronic Designated Primary Market Maker (e-DPM) and a Market Maker (MM) in more than 560 different option classes at CBOE.
We are pleased that Citigroup will take the reins of the Exchanges initiative to begin trading S&P 100 Index options on CBOEs Hybrid Trading Platform, says Edward T. Tilly, executive vice chairman of the Chicago board options exchange. “As a leading market maker, not only for CBOE, but the industry, we are confident that their experience and expertise will provide OEX investors with the liquid, robust and efficient markets they desire.
D.C.