CBOE Eliminates All Fees On Customer Stock Option Orders

The Chicago Board Options Exchange (CBOE) today announced that effective May 1, 2000 it is eliminating all Exchange fees for public customer stock option orders regardless of size or routing method. Currently, customer fees for stock option orders that are not electronically routed include a 9-cent transaction fee, plus a 5-cent trade match fee and a 3-cent floor brokerage fee.

"We are extremely pleased that continuing record volume and increased automation allow us to pass on savings to our customers. With the implementation of Automatic Book Priority (ABP), which automatically matches and executes orders with the Book, CBOE now executes 39% of customer orders electronically- with absolutely no human intervention. More than 94% of customer orders at CBOE are routed electronically. CBOE continues to lead the way in making options trading more cost efficient through technology," said CBOE Chairman and CEO William J. Brodsky.

CBOE, the world's largest options marketplace and creator of listed options, is regulated by the Securities and Exchange Commission (SEC). For additional information about the CBOE and its products, visit the new CBOE web site at http://www.cboe.com.