Electronic options exchange HedgeStreet says that Susquehanna International Group (SIG) and DRW Trading Group (DRW) have launched market-making services on its platform. In addition, SIG and DRW have taken investment stakes in HedgeStreet. Together with a second investment from the Chicago Board Options Exchange (CBOE), HedgeStreet has closed its latest funding round.
“With SIG and DRW, two of the largest and best market-making firms in the world, we expect better pricing, larger sizes, and narrower spreads for our trading members. We expect their influence to be profound as they phase in their participation on our Exchange. In addition, HedgeStreet plans to launch a compelling institutional platform later this year. That new platform will carry a similar range of contracts, in larger denominations,” comments Stephen Race, Chairman and CEO of HedgeStreet.
Eric Noll, Global Head of Strategic Relationships for SIG, says HedgeStreet “reaches a broader range of traders, who we believe will benefit from our twenty years of market making expertise.”
“HedgeStreet is breaking down barriers for the retail trading community. By introducing Binary options, HedgeStreet offers a simpler way for the average investor to trade directly on an Exchange in markets that were previously hard to access. We want to be a part of this new and growing marketplace,” says Donald Wilson, CEO, DRW.