Pacific Exchange Expands Auto-Ex To Broker-Dealers - Automated Executions For Professionals In Top 120 Issues

The Pacific Exchange (PCX) announced today that its groundbreaking program offering broker-dealers access to its automated execution systems is now available for the 120 most active options issues. The initiative, BD AutoEx, is available to all professional traders, including specialists and market makers from competing exchanges.

Broker-dealers can receive automated executions for at least five contracts in the top 120 issues. Many PCX Lead Market Makers are making substantially larger commitments in selected issues. Professionals' orders in QQQ options, for example, will be automatically executed for up to 250 contracts. (A complete roster of eligible issues and size guarantees is at www.pacificex.com.)

"We now have more than 300 issues available in BD AutoEx," said Thomas E. Connaghan, PCX Senior Executive Vice President. "The program has been well-received and our customers wanted to expand it. They like the speed of execution, and the fact that we've ended artificial distinctions between customers. With BD AutoEx, an order is an order, regardless of its source."