Direct Edge Says Its Networks Approved as Exchanges
March 14, 2010
Direct Edge said the Securities and Exchange Commission has approved its applications to grant exchange status to its two electronic trading systems, EDGA and EDGX.
The Jersey City, N.J., marketplace developer and operator said EDGA and EDGX likely will begin operating as registered national securities exchanges in early spring.
The approvals are important “for all market participants who value choice and competition in the market,” said William O’Brien, chief executive officer of Direct Edge.
Direct Edge filed for exchange status in May 2009.
Infrastructure will be housed in the a state-of-the-art Equinix NY4 data center in Secaucus, NJ.
Direct Edge is owned by a consortium that includes the International Securities Exchange, Knight Capital Group, Inc., Citadel Derivatives Group, The Goldman Sachs Group, and J.P. Morgan.
