The Philadelphia Stock Exchange (PHLX) announced today the launch of PHLX modified foreign exchange spot rates for the Euro (XDE) and British Pound (XDB). PHLX will disseminate a modified spot rate beginning Friday, March 30. Pursuant to the Exchange’s modified spot rate methodology, if the British Pound is valued at 1.9750, the modified rate will be disseminated as 197.50.
"Investors will now have a readily available Euro and British Pound spot rate to assess foreign exchange trading opportunities by simply typing into their broker-dealer’s website the symbols XDE and XDB," said Daniel R. Carrigan, PHLX’s vice president of new product development. "These modified spot rates make the trading of PHLX World Currency Options similar to the experience of trading equity and index options in options-approved securities accounts for the retail investor,” he said.
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,434equity options, 17 sectors index options and currency options. For more information about the PHLX and its products, visit www.phlx.com.
