The TMX group is pleased with the recent decision by the U.S. Securities Exchange Commission to grant a national securities exchange license to the Boston Options Exchange (BOX).
The license will enable the exchange to act as its own self-regulatory organization starting in mid-May.
“We are very pleased with this important development at BOX, which allows them to compete, build their business and manage their growth more independently and effectively,” said Alain Miquelon, president and CEO of Montréal Exchange, part of the TMX Group.
Montréal Exchange Inc. will maintain its interest in the BOX options trading platform through a 53.8% stake in BOX Holdings Group, which will own and operate the options trading platform.
In addition, as part of the organizational restructuring in connection with the exchange approval, TMX Group plans to take a 40% economic interest and a 20% voting interest in the new SRO.