Phlx's Ucom Struggles In Early Days As Clearing Members Adjust Systems
EXCHANGES
The Philadelphia Stock Exchange's (Phlx) listed alternative to over-the-counter currency options market, the United Currency Options Market (Ucom), only saw "a couple" of trades during its first week of trading (FX Week, November 14). Despite the lack of volume going through the customised market, exchange officials and market participants remain optimistic about its chances of success.
"This is a long-term process," says Phlx executive vice president Joseph Rizzello. "It's a new market, not a
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