Options Exchanges Meet At SEC To Discuss Linkage Plan Process

The Commission issued an order today requiring the American Stock Exchange, the Chicago Board Options Exchange, the Pacific Exchange, and the Philadelphia Stock Exchange, and requesting the International Securities Exchange (collectively, the "Options Exchanges") to develop an inter-market linkage plan for multiply traded options. The Commission's order directs the Options Exchanges to submit for Commission approval a linkage plan within 90 days. The Commission also hosted a meeting of the Options Exchanges today to discuss the development of a linkage plan. Securities and Exchange Commission Chairman Levitt said, "An inter-market linkage plan is critical to ensuring that customer orders receive best execution."