THE DEFINITIVE SOUR CE FOR TR ADING NE WS
VOL XLV ISSUE 27 15 - 21 AUGUST 2013 www.wallstreetletter.com
IN THIS ISSUE News People moves 04 Focus Fee chart 10
MORE NEWS INSIDE
TOP STORY
Innovation to invigorate options
A recently released report from the Aite Group highlights options innovations of the last year as a means to an invigorated industry TURN TO PAGE 04
ISE vows not to buy market share on Gemini
BY JEANENE TIMBERLAKE
GoldenSource to add locations, staff in LatAm
The enterprise data management vendor recently hired Bret Bange as its head of sales for the Americas TURN TO PAGE 07
GBST considers cloud for FTT
The vendor is offering its Syn~FTT platform globally TURN TO PAGE 09
The International Securities Exchange (ISE) leadership is vowing to focus on gaining market share for its recently launched second exchange, ISE Gemini, due to its market structure as opposed to using fee gymnastics, according to comments from Boris Ilyevsky, managing director of ISE’s options exchanges. Gemini was launched on August 5 with nine market makers and six symbols, with plans to launch an additional 50 symbols per week until approximately 300 of the most traded products are
available. The market model will offer priority for retail and institutional customers and a pro rata model for brokerdealers, the same as it offers on the flagship venue. In an interview with WSL, Ilyevsky said the goal for Gemini is to compete for resting, non-marketable limit orders. He acknowledged the exchange has come out with aggressive rebates to start, adding: “It’s a competitive area where rebates are paramount.” However, while the goal is to attract TURN customer flow, there TO PAGE is no specific market share target. 03
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