In the month of January, price improvement versus the prevailing NBBO for contracts submitted via the Boston Options Exchange’s (“BOX”) price improvement auction (‘PIP’*) averaged $3.23 per contract. A record-high average of 107,043 contracts per day received price improvement during the month. This represented savings to investors of $7 million, another record high. With this amount, BOX has reached $108 million in savings to investors since inception.
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