September 4, 2012 / 9:13 PM / 7 years ago

NYSE reorganizes management of its U.S. options business

NEW YORK, Sept 4 (Reuters) - NYSE Euronext said on T uesday it c ut the number of top executives in its U.S. options business to one from three, appointing Steve Crutchfield as sole head of the unit in a move aimed at creating a more integrated and efficient operation.

Crutchfield will oversee both the NYSE Arca Options and NYSE Amex Options businesses, the transatlantic exchange operator said in a note to traders.

Crutchfield had been chief executive of NYSE Amex Options, while Amy Farnstrom and Paul Finnegan had been co-CEOs of NYSE Amex Options.

Farnstrom will continue to be responsible for technology initiatives for NYSE U.S. Options and for the San Francisco trading floor, and will also take on the role of head of product strategy, U.S. Options, NYSE said.

Finnegan was leaving NYSE to become head of options data provider Livevol Securities, said a person familiar with the situation who was not authorized to comment.

NYSE said its options management team would “generally remain in place while being structured to respond more quickly” to customers’ needs.

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