Tony McCormick, new chief executive officer of the Boston Options Exchange, has told Futures and Options Intelligence his first priority will be to attract retail traders to the equity options exchange.
“My immediate focus is to figure out a way induce retail order flow into the exchange so that customers can benefit from the Price Improvement Period mechanism more fully than they are now,” he told FOi.
McCormick believes the exchange can use a variety of measures to increase retail volumes, the first being “contact-based”. McCormick said he had developed this approach from his own experience, having previously worked at broker Charles Schwab & Co,...