PHLX Waives Customer Transaction And Comparison Fees

The Philadelphia Stock Exchange (PHLX) announced today that all customer transaction and comparison fees will be waived for orders up to 250 contracts entered through PHLX's Automated Options Market (AUTOM), effective January 3, 2000. Currently, customer fees are $0.14 per option contract. "By being the first exchange to waive these fees, the PHLX has taken yet another step to reinforce its reputation as the most cost effective environment for both customers and traders to transact their options business", said Meyer S. Frucher, PHLX Chairman and CEO. 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 2600 stocks, 950 equity options, 12 sectors index options, and 100 currency pairs. For additional information on PHLX's products, trade data, and market information, browse PHLX's Web site at www.phlx.com.