“The relationship is difficult from a regulatory point of view,” said McCormick. “And we get no benefit whatsoever in terms of order flow.” The Canadian exchange group, which operates the Toronto Stock Exchange and Bourse de Montréal, owns 54% of the US options platform.
“We’re looking to the retail sector to diversify our shareholding,” McCormick stated.
Volumes have remained sluggish on the exchange. Some 8.3m contracts were traded last month, giving Box a 2.7% market share. Year to date volumes are down 44.7% on 2009.