Edward G. Boyle named VP-NYSE Arca Options; penny pilot outperforms competition nationally

By: Amy Farnstrom

File Under: NYSE Arca, Options

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Extra! Extra! Calling all options fans! I've got two, count em, two big pieces of news to share with you, and these are doozies. First, we scooped Ed Boyle from TD Securities, where he was Vice President and Director of Equity Derivatives. This is truly exciting news for us! Mr. Boyle is bringing extensive industry knowledge and an outstanding reputation in the business to lead our team as the new Vice President of NYSE Arca Options, and we are thrilled to have him aboard. You can expect great business vision and initiatives under his leadership!

Secondly, and I will just unabashedly do some horn tooting here, we recently got the news that Transaction Auditing Group, Inc. (TAG), an independent auditor, reported NYSE Arca Options has consistently offered the best price FOUR TIMES MORE OFTEN than any other market center for options that are included in the SEC’s penny pilot program. Yes, I'll say it again, FOUR TIMES MORE OFTEN. Across all 13 pilot securities, NYSE Arca Options was, on average, alone at the National Best Bid 6.3% of the time and alone at the National Best Offer 6.2% of the time. Additionally, NYSE Arca displayed prices equal to the National Best Bid and Offer (NBBO) over 78% of the trading day.

On top of that, among exchanges quoting the most active equity option, QQQQ, NYSE Arca was -- again! -- four times more likely to exclusively display the National Best Bid or National Best Offer. The NYSE Arca quote was equal to the NBBO 78.6% of time, 8.7% more often than the ISE and 29% more often than the CBOE.

Yes, I'm shouting from the rooftops. Can you blame me?

Combine these stats with our policy of IMMEDIATELY routing your order to the best price when we aren't at the NBBO--where are you going to send your order?

Something tells me it's all happening at NYSE Arca Options.

Tags: NYSE Arca, options