Mr. Frucher stated that, "Under the leadership of Chairman Levitt and Annette Nazareth, the Director of the Division of Market Regulation, the options marketplace has vastly improved over the last year, and for that the investing public owes them their gratitude." Mr. Frucher went on to note that, "Embarking on multiple listing has enhanced competition in the options markets to the benefit of the investing public. The future linkage of these markets and the adoption of the SEC's 'trade-through' disclosure obligations will further strengthen them. While we are disappointed that the linkage proposal does not provide a 'price-time priority' methodology, we look forward to working with the SEC and the other options exchanges on the implementation of a viable linkage plan that protects both the integrity of the markets and the investing public."
The PHLX is the first securities exchange in the U.S. and the nation's fastest growing sectors index options exchange. Founded in 1790, PHLX is a market leader in the trading of over 2,300 stocks, 767 equity options, eleven sectors index options and 100 currency pairs.
