Price Improvement Through BOX’s Price Improvement Auction Holds Steady Above $3 Per Contract, Average Daily Contract Trading Volume Up 25% Over Previous Year

For the month of June 2006, the average price improvement versus the prevailing NBBO for contracts submitted via BOX’s price improvement auction (‘PIP”^*) was $3.02. This is the third consecutive month in which this figure has been above $3.

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^*patent application pending for BOX Price Improvement Process auction