Editorial: Spreading options

The US options market is something of an anomaly in global exchange terms. Not only have the options exchanges resisted the widely-held belief that consolidation was inevitable, they have even managed to grow in number, 2004's addition of Boston Options Exchange (BOX) bringing their number to six. Add to this their sharing of a clearinghouse and numerous products, the limited scope of previous attempts at cross asset class listings, the continued existence of open outcry...