Statement from Glenn Rosewall Executive Chairman BBY regarding...

Statement from Glenn Rosewall Executive Chairman BBY regarding BBY Options trading:

“The BBY ETO business has been very successful and has experienced strong growth. In some senses, we have grown too quickly with this business, so much so that the BBY Board believes that with the current gyrations in the market, and the pressure on advisors to ensure that their clients’ exposures are properly collateralised, it is prudent for the rest of the business that BBY exits the Options clearing business.
This will not impact on the clearing of other BBY businesses.
Effective immediately, BBY will not enter into any new Derivative Market Transactions which are cleared by BBY unless they are for the purpose of closing out open positions. Please contact your BBY advisor if you have any further queries about this.”