American Stock Exchange Reduces Transaction Fees For Options - Second Phase Of Three-Step Process That Will Cut Fees From 30 Cents To 20 Cents

The American Stock Exchange (Amex) announced today that, as part of its second phase of a three-step process, it has reduced transaction charges for equity options contracts. On May 1st transaction charges were reduced from 36 cents to 30 cents; August 1st they were cut to 25 cents; and on December 1st charges will drop to 20 cents. These are charges for Amex specialists and market makers.

Michael T. Bickford, senior vice president for options at the Amex, said, "We are extremely pleased to implement the latest transaction fee cuts for our options contracts. With the aggressive rollout of the Amex New Trading Environment (ANTE), combined with another round of fee cuts, the Amex is making every effort to respond to our customers' needs and we expect these initiatives will make us even more competitive in the options marketplace."