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The Boston Options Exchange (BOX) has announced the addition of indexed options and the launch of the rollout of over 500 new classes. BOX moves to an even more competitive position with offering its customers some of the most actively traded indexed options in the industry with the addition of DIA (DIAMONDS Trust), MNX (Mini-NDX Index), NDX (NASDAQ-100 Index) and RUT (Russell 2000® Index).
“BOX has always been an innovator in the options industry since the days that it revolutionized the industry with its PIP (price improvement period) model that has delivered nearly $90 million in savings to investors with an average price improvement of $3.36 per contact,” said Scott Morris, BOX CEO. “Our enhanced trading engine, SOLA™, has provided the opportunity to offer some of the highest volume indexed options and the dramatic increase to more than 1,000 equity options in the coming months.”
The enhanced trading engine, SOLA™, brings BOX to the next level of trading with the ability to expand its class offerings. SOLA™ is significantly faster, adaptable for penny trading and provides for extensive capacity expansion. It has allowed BOX to reduce its average response time by 89% at the opening and 71% during the trading session.
“Interactive Brokers is extremely pleased to participate in the BOX upgrade to a faster technology platform and their addition of 500 new option classes,” said Steve Sanders, managing director-business development, Interactive Brokers. “These technology enhancements will provide additional value to all options market participants.”
“BOX is well positioned to continue to deliver exceptional value to the market and, ultimately, its customers within the rapidly evolving options world and the advent of penny trading,” said Alan Grigoletto, BOX vice president-business development. “The future of BOX will continue to be proven based on its increasing market share, innovations in order processing and benefits to investors.”
The Boston Options Exchange Group, LLC (BOX) was established February 2002 by the Boston Stock Exchange, Inc. (BSE), Montreal Exchange, and Interactive Brokers Group LLC. BOX is an all-electronic equity derivatives market and was created as an alternative to the existing market models. To learn more about BOX, visit www.bostonoptions.com.
