Nasdaq has set plans in motion to launch an equity and index options market, to be known as Nasdaq Options Market. Pending regulatory approval, the exchange said it hoped to open the fully automated options marketplace by the third quarter of next year.
"The options market is on the verge of a transformative change, driven by SEC [Securities and Exchange Commission]'s call for quotes in increments of pennies versus nickels," said Chris Concannon, executive vice president of Nasdaq Stock Market.
"The move to decimalisation will shift the competitive landscape towards...