BOX Receives Regulatory Approval To Accept Orders In Pennies For All Options Series

BOX, the first options exchange to trade in pennies, received SEC approval on August 2, 2007 for the launch of its Auto Auction Order ("AAO") which will allow all Public Customer acccounts to send orders to BOX in pennies even if the option series is not part of the Penny Pilot. When a limit order denominated in pennies for a non-penny series is received by

BOX, the order will be rounded to the nearest valid trading tick (rounded down if a buy order and up if a sell order) and booked on the BOX electronic central limit order book at the rounded price. However, whenever a price improvement auction is initiated for the series, the AAO will participate in penny increments automatically.

BOX expects to make this new order type available to BOX Participants on the BOX trading system in the second half of September, 2007.

For further information, please contact BOX MOC on 866-768-8845. To view the AAO rule test, click here.