01/19/04
BRIEF OBJECTS
RIVALS TO MATCH BOSTON OPTIONS EXCHANGE MODEL
Incumbent competitors to the all-electronic Boston Options Exchange (BOX), which received SEC approval to operate last week, said they would match its controversial price-improvement feature. BOX allows brokers to trade in penny increments, rather than in the typical five-cent increments that prevail in U.S. options markets, for three seconds, in an effort to lift the bid/offer price. Both the Chicago Board Options Exchange (CBOE) and Philadelphia
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