Securities and Exchange Commission (SEC) chairman
Christopher Cox sent a letter to the six US options exchanges
last week urging them to begin quoting a limited number of
options in pennies on a pilot basis beginning on 29 January
"Quoting in penny increments will benefit investors by
allowing options quotes and orders to be expressed at better
prices, and has the potential to enhance further the already
strong competition and innovation that exists in the options
markets," Cox said in a statement, issued on 7 June.
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