Securities and Exchange Commission (SEC)'s latest attempt to tackle the thorny issues of payment for order flow and internalisation in the US options markets has been met with derision from the exchanges.
Options exchange leaders took turns bashing the February concept release, titled Competitive Developments in the Options Markets, during the FIA conference in
Boca Raton. Bill Brodsky, chairman and ceo of Chicago Board Options Exchange said his exchange has repeatedly commented and asked SEC to take some action on the payment for order flow and internalisation issues, with no result.
"These issues have been lingering for a terribly long time," Brodsky said. "I'm not concerned about...