Peterffy Says New Options Exchanges are “Economically Crazy” and aren’t “Good for the Community”
Launching new options exchanges is “economically a crazy thing to do” says Thomas Peterffy, CEO of Interactive Brokers, in the most recent episode of Trading Tech Talk. “All these venues make the markets so very very complicated that it also becomes impossible for the SEC or FINRA to police what everybody is doing…It’s good for me and my customers but overall I don’t think it’s good for the community.”?
You can hear the entire interview here.
There are currently 12 options exchanges, with two more slated to come on board this year. Given the market share numbers, one has to wonder whether the fragmentation can even be beneficial to the exchange operators themselves.?
Here is a look at the May 2015 market share (from The OCC)
Lest you think that May was an anomaly, here is a look at all of 2014 (from The OCC)
