Rivals plan 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, according to RiskNews ' sister publication Trading Technology Week .

Box allows brokers to trade in penny increments, rather than in the typical five-cent increments that prevail in the US options markets, for three seconds, in an effort to lift the bid/offer price.

Both the Chicago Board Options Exchange and Philadelphia Stock Exchange said they would immediately file with the SEC to match the Box model.

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