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 $3.93 per contract. An average of 77,613 contracts per day received price improvement during the month. This represented savings to investors of $6.4 million. With this amount, BOX has reached $203 million in savings to investors since inception. As an interesting note, it took BOX 35 months to reach $100M and only 18 months to reach the next $100M, a twice-as-fast rate.
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