NYSE Euronext will remain the largest single shareholder in the entity which will be supervised by a separate board of directors and a dedicated CEO, Steve Crutchfield.
The agreement has been approved by the Securities and Exchange Commission.
This new partnership is expected to enhance NYSE Amex Options’ competitiveness by providing a range of benefits to the marketplace through a unique market model that combines a trading platform with global leaders in market making, order execution and customer service.
NYSE Amex Options CEO Steve Crutchfield said that by finalizing this partnership agreement, NYSE Amex Options has the unique opportunity to deliver a new paradigm in exchange management and functionality by aligning its core business operations with that of key customers.
NYSE Euronext’s US options exchanges, NYSE Arca Options and NYSE Amex Options, combine open outcry trading facilities with an advanced electronic trading platform capable of processing 400,000 orders and 3,500,000 quotes per second with sub-millisecond acknowledgment (ACK) times.
