TradeTalks: Nasdaq Doubles Down on Options and Philadelphia .

Here’s an exclusive look at the new Nasdaq PHLX options trading floor. Read below as we explore the rich history of the exchange, as well as the ties to Philadelphia.

TradeTalks: Nasdaq Doubles Down on Options and Philadelphia

By Jill Malandrino / Global Markets Reporter

On Thursday, April 20, Nasdaq celebrated it’s ribbon-cutting ceremony for the new Nasdaq PHLX options trading at the 49-story FMC Tower in the heart of Philadelphia. While regional exchanges have shut down and consolidated, the country’s oldest exchange continues to endure. Since acquiring PHLX in 2008 and completing the $1.1 billion acquisition of the International Securities Exchange in 2016, the options business is a key vertical for Nasdaq.

“The Philadelphia options business has continued to grow,” Tom Wittman EVP of Global Trading & Market Services said. “It’s a great trading model which has a combination of electronic and the floor. I think what keeps the business around and growing is our ability to be dynamic and evolve with the market place.”

Today, the PHLX, with the five other Nasdaq options exchanges, account for 42% of daily options trading volume, and there are still ways to gain even more market share. “There is still a lack of use of options in retail customer accounts and by Registered Investment Advisers (RIAs),” Wittman said. “Wealth management divisions of institutions don’t use options yet, and there is a real opportunity to grow this business.”

We are an innovative company. We are a creative company. We are a leader in FinTech. Be sure to check out this video for a unique look on the Nasdaq PHLX options trading floor and our state-of-art office space.

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