The NASDAQ OMX Group, Inc. (NASDAQ: NDAQ) has received approval from the SEC that will allow the exchange to launch its equity and index options market. The new exchange will be called the NASDAQ Options Market. The options exchange is NASDAQ OMX’s new electronic option trading offering that will be set up to operate on a price/time priority model.
The market is scheduled to begin operation on March 31, 2008. NASDAQ is already buying the Philadelphia Stock Exchange, so this part here may be more of a formality than any major news.
But with the NYSE Euronext (NYSE: NYX) acquiring the American Stock Exchange, this is just one more shot in the war of exchanges. The two exchanges are also soon to be warring in the SPAC IPO listings.
Jon C. Ogg
March 12, 2008