ISE announced that KCG Americas, LLC will serve as the Primary Market Maker (PMM) for options products in Bin 5, effective today, October 20, 2014.
KCG purchased the Bin 5 PMM rights from Bank of America Merrill Lynch. KCG also serves as a PMM on ISE Gemini and a Competitive Market Maker (CMM) on both ISE and ISE Gemini.
“We are very pleased that KCG has decided to expand their presence on ISE by becoming a PMM,” said Boris Ilyevsky, Managing Director of ISE’s options exchanges. “KCG has distinguished itself as a leader in options market making and electronic trading, and their addition as a PMM will be a benefit to our market as they leverage their innovative trading systems and expertise to make high-quality markets for ISE’s customers.”
KCG is one of seven PMMs on ISE. ISE’s options market is divided into ten bins, with one PMM per bin. To learn more about members on ISE and ISE Gemini, please visit www.ise.com/members.