Options Xchange Group Plans to Enter U.S. Listed Options Market as an Exchange Operator

Options Xchange Group Inc. today announced plans to establish and operate a U.S. listed options exchange business, powered by a new technology platform engineered from the ground up to meet the needs of modern options trading.

Options Xchange Group is led by Founder and Chief Executive Officer Peter Maragos. He is the former CEO of DASH Financial Technologies, a leading provider of options trading infrastructure and execution services, and a former member of the Options Clearing Corporation’s board of directors.

“Options Xchange Group is building an exchange business specifically engineered to handle the needs of modern options trading, particularly given the recent stunning growth in listed options volumes,” Maragos said. “We have assembled a remarkable leadership team to execute this vision, individuals with decades of industry expertise who can not only drive our next-generation technology but also support exchange members with extraordinary levels of service.”

In addition to Maragos, Options Xchange Group’s senior leadership team includes:

• Sean Feeney, Chief Strategy Officer. Feeney is former Head of U.S. Options at Nasdaq.
• James Hyde, Co-Founder and Chief Revenue Officer. Hyde previously served as Head of Business Development for NYSE Options.
• Billy Mullins, Chief Information Security Officer and Head of Engineering. Mullins was Head of Engineering for the Consolidated Audit Trail.
• Tom Reina, Chief Technology Officer. Reina is former CTO at ISE Holdings and former Head of Exchange Technology at IEX.
• Clare Saperstein, Chief Legal Officer. Saperstein is a seasoned legal and market structure executive and former Head of Equities at NYSE.

Options Xchange Group’s technology platform is designed to deliver determinism, transparency and exceptional performance, engineered to handle today’s market volumes and scale well beyond them. The company will provide a premier experience to exchange members, giving them meaningful opportunities to provide input as well as delivering high levels of transparency across connectivity, trading, reporting and post-trade support.

The company expects to disclose further details later this year in connection with required regulatory filings with the U.S. Securities and Exchange Commission.