Other exchanges to compete with controversial PIP
Boston Options Exchange (BOX) received approval from
Securities Exchange Commission (SEC) last Wednesday, clearing
the way for the new options market to launch at the end of this
It was good news for BOX officials, who began the regulatory
approval process more than two years ago and battled numerous
challenges from competing exchanges over its market model. BOX
is now the sixth options exchange in the US, and the second
fully electronic options market after International Securities
Ken Liebler, chairman and ceo of BOX, told FO Week
that it will begin trading on 30 January with four or five
options contracts. It plans to slowly add more contracts over
the next several months, ending up with about 250.
"It's going to be a very slow and deliberate process,"
Liebler said. "We want to be sure, with different technology
and different features, that we do it correctly."
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