So what's the best way to build trading volume on a fledgling platform? The best method, it would appear, is to give broker dealers some skin in the game, that is, giving them an opportunity to profit alongside the platform. We've seen this strategy with the InterContinentalExchange, which is winning the CDS clearinghouse battle. We may see it as well in options.

NYSE Euronext plans to sell a "significant" equity stake in NYSE Amex Options to seven big broker dealers, BofA, Merrill Lynch, Barclays Capital, Citadel Securities, Citi, Goldman Sachs, TD Ameritrade and UBS, reports Bloomberg. The deal is expected to close this year. Last month, Amex's share in equity options was 6.4 percent, compared with its all-time low of 4.9 percent in March.

The issue here is whether there is any reason for the broker dealers to not send order flow to the Nasdaq. You would think this may be enough to overcome whatever was restraining them recently. The NYSE expects order flow to be in the mid-20 percent range soon. 

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