BOX Eliminates Make-Or-Take Pricing On Top ETFs

As of July 1st, BOX has eliminated Make or Take pricing on its three most active ETFs: QQQQ, SPY and IWM. For these names, orders executed for Public Customer accounts of a BOX Participant are not subject to a BOX trading fee and all other account types pay a trade execution fee of $0.20 per contract.

PIP Savings To Investors Approach A Quarter Billion Dollars

In the month of June, price improvement versus the prevailing NBBO for contracts submitted via the Boston Options Exchange’s (“BOX”) price improvement auction (‘PIP’^*) averaged $2.89 per contract. An average of 33,843 contracts per day received price improvement during the month. To date, BOX has saved investors over $248 million since inception with its price improvement mechanism, just shy of the quarter billion dollar milestone.

Average daily trading volume on BOX in the month of June 2009 was 523,126 contracts. BOX market share in BOX-traded classes in June was 4.29%.

^* Patent application pending for BOX Price Improvement Process auction