Expanding NYSE Arca Complex Order Book

By: twilemon

File Under: NYSE Arca, Options

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From Todd Wilemon: NYSE Arca options today takes another huge step forward in bringing speed, transparency and throughput to complex options order trading. Starting today, all single-leg options with stock orders AND reversal conversions are eligible for trading in the Complex Order Matching Engine!

You want functionality? We give you functionality! (Can you tell I am a little excited?!!)

Your favorite options trading platform that provides you with immediate, cost-effective electronic order execution will now be able to handle buy writes, delta neutral single-leg option orders (tied to stock or ETF), married puts and reversal conversions. This functionality is available for every issue listed on the NYSE Arca options platform. How cool is that?

Now you will get the same lightning-fast order handling that you love for tied trades as you do for options-only single-leg and complex orders. Supercharge your execution opportunities by using the new Complex Order Book functionality to access the liquidity on both our equity and options electronic platforms at the same time.

NYSE Arca offers riskless execution for options with stock complex orders by matching complex orders within the Complex Order Book OR by interaction with the liquid simple markets on both the options and equities platforms.

To use the new functionality, OTP holders must also be an NYSE Arca ETP (equity trading permit) holder, as well as a FINRA (Financial Industry Regulatory Authority) member. (But you are already an ETP holder, aren’t you? If not, now is the time!)

It gets better:
• Single-leg option with stock orders can be priced in penny increments.
• Reversal conversions orders can be priced in penny increments.
• Complex orders can be priced in penny increments.
• Marketable option/stock orders will trade immediately lightening-fast, with no auction or delay in processing.
• ArcaBook subscriptions are available for the Complex Order Book with both top of book messages and new instrument messages.
• These strategies will be available in all options symbols traded on NYSE Arca.

In order to identify and organize complex instruments and orders, NYSE Arca will disseminate Complex FAST symbols via ArcaBook. For other technical details and specs and also for people who you can contact for more info, please peruse the client notice here:
http://www.nyse.com/pdfs/Expansion_Single_Leg.pdf

See you in the Complex Order Book!

Trade ‘Em Up!
TW