Boston Options Exchange: Price Improved Contracts Surge In May

In the month of May, price improved contracts on BOX soared to an average of 99,812 per day, an increase of 62% over April and its highest level in 28 months. Price improvement versus the prevailing NBBO for contracts submitted via the Boston Options Exchange’s (“BOX”) price improvement auction (‘PIP’) averaged $3.47 per contract, a 17% increase over April’s $2.97. Total savings to investors this month were $6.9M. With this, BOX has saved investors $280M since its inception in 2004. Average daily trading volume on BOX for the month of May 2010 was 371,987.

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