Will the Options Industry Ever Embrace ATSes?

Rob Daly, Sell-Side Technology

When I read today that options alternative trading system (ATS) operator Ballista Securities shuttered its operation prior to Christmas, it reminded me of the first line of Robert Frost’s poem, Mending Wall: “Something there is that doesn’t love a wall." In this case, there is something in the options industry that doesn't love off-exchange trading.

Ballista was one of the first to introduce a delta-neutral crossing network for options, which it did back in 2008. Although not a direct competitor

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