The BATS Options platform is positioned to help participants navigate the transition from a quote driven market
to an order driven one," said Jeromee Johnson, vice president, market development and head of BATS Options.
Jiway Limited is an electronic order and quote driven market
providing a single access point to shares from the UK, Sweden, France, US, Germany, Italy and The Netherlands, with guaranteed liquidity and prices no worse than the underlying exchange.
He pointed to differences between the equity and options markets, saying that "The options market is a quote driven market
with hundreds of thousands of options series, most of which are constantly changing due to changes in the price of the underlying instrument" making it very difficult for an options exchange to display the national best bid offer price continuously and thereby making a mechanism that sought out the best bid offer price advantageous to the customer.