CBOE Announces Reduction of Fees to Customers

The Chicago Board Options Exchange (CBOE) has announced that it will substantially reduce transaction fees to customers. Effective March 1, 1999, transaction fees to member firms delivering customer stock option orders will be eliminated for marketable orders of 30 contracts or less routed through the CBOE's Order Routing System (ORS). Transaction fees for other customer stock option orders will be reduced to 9 cents per contract, a reduction of up to 66% from current rates. Equity orders that are executed through the CBOE Electronic Order Book will be reduced by more than 50% to 20 cents per contract from 45 cents.