BOX Options Exchange LLC, owned by TMX Group Inc. (X.T) and
seven brokers including Citadel LLC and Interactive Brokers Group
Inc. (IBKR), won approval to become a U.S. securities exchange,
Bloomberg News reported late Friday on its website.
TMX Group, which owns 53.8% of parent company BOX Holdings Group
LLC, will limit its equity stake in the entity registered with the
U.S. Securities and Exchange Commission that will operate the
market, to 40% and its voting share to 20%, according to Bloomberg.
Interactive Brokers will have 20% of BOX Holdings. Citadel,
Citigroup Inc. (C), UBS AG (UBS) and Credit Suisse Group AG (CS)
will each own between 3.99% and 4.2%.
BOX, introduced in 2004, currently uses the exchange license of
Nasdaq OMX BX, owned by Nasdaq OMX Group Inc. (NDAQ), to run its
options market, Bloomberg said.
-Dow Jones Newswires; 212-416-2800