What is it about the equity options market in Europe which you believe makes it suitable for trading through exchanges?
In general, very mature and efficient cash markets and a clear, transparent and reliable legal environment. A big bunch of the equity options in the OTC market are exchange look-alikes, and [there is] an increased sensibility for counterparty risk with the requirements of Basel II.
Most equity options business remains OTC; what advantages can exchange traded equity options offer versus the OTC equivalent that makes you think that they can claim market share?
We believe that there is a symbiotic relationship between the on exchange and OTC markets and that supporting both markets allows us to offer our customers the most benefits and risk management opportunities. We believe that our offering eliminates counterparty risk for market participants, contributes to the overall stability of the market...