3D Markets, formed in early 2007, went live with its Archangel alternative trading system (ATS) in January, bringing a new twist to the highly competitive U.S. options market.
Developed in 2001 but shelved as a result of market conditions at the time, New Hope, Pa.-based 3D Markets' options ATS is now receiving near-daily interest from traders, according to CEO David Mortimer. "The prediction I made last year to our founding partners and investors--that the options industry was ready for institutionalization--has proceeded even more rapidly than I had hoped," says Mortimer, adding that his company acquired a broker-dealer in December, though he declined to name the firm.
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