Average daily trading volume on the Boston Options Exchange (“BOX”) in May 2006 was 444,562 contracts, a 7% increase over the previous month and a 62% increase over the same month in the previous year. This figure was the third best in BOX’s history as BOX market share on listed classes was 6.9%. The options industry continued to witness significant dividend related trading activity among options market makers on several of BOX’s competitors. If the largest of these were excluded, BOX market share of equity options for the month of May would increase to 7.1%, a more relevant measure of its market share.
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