SEC Approves BOX Options To Run US Exchange - Bloomberg

Date : 04/28/2012 @ 6:49PM
Source : Dow Jones News
Stock : Interactive Brokers Grp., Inc. (MM) (IBKR)
Quote : 39.01  0.25 (0.64%) @ 8:00PM

SEC Approves BOX Options To Run US Exchange - Bloomberg

TMX Group Limited (TSX:X)
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BOX Options Exchange LLC, owned by TMX Group Inc. (X.T) and seven brokers including Citadel LLC and Interactive Brokers Group Inc. (IBKR), won approval to become a U.S. securities exchange, Bloomberg News reported late Friday on its website.

TMX Group, which owns 53.8% of parent company BOX Holdings Group LLC, will limit its equity stake in the entity registered with the U.S. Securities and Exchange Commission that will operate the market, to 40% and its voting share to 20%, according to Bloomberg. Interactive Brokers will have 20% of BOX Holdings. Citadel, Citigroup Inc. (C), UBS AG (UBS) and Credit Suisse Group AG (CS) will each own between 3.99% and 4.2%.

BOX, introduced in 2004, currently uses the exchange license of Nasdaq OMX BX, owned by Nasdaq OMX Group Inc. (NDAQ), to run its options market, Bloomberg said.

-Dow Jones Newswires; 212-416-2800

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