BOX’s Average Price Improvement Remains At Near-Record Level, ‘Make Or Take’ Is Launched

In the month of September, price improvement versus the prevailing NBBO for contracts submitted via the Boston Options Exchange’s (“BOX”) price improvement auction (‘PIP’*) averaged $3.96 per contract, just slightly shy of the all-time record set last month. An average of 79,468 contracts per day received price improvement during the month. This represented savings to investors of $6 million. With this amount, BOX has reached $147 million in savings to investors since inception.

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