The Philadelphia Stock Exchange Announces Penny Increment Trading For World Currency Options Beginning January 2, 2008

The Philadelphia Stock Exchange(PHLX) announced today that it will offer penny increment trading for dollar-settled World Currency Options (WCO) on the Euro (XDE), British Pound (XDB), Australian Dollar (XDA), Canadian Dollar (XDC), Swiss Franc (XDS) and Japanese Yen (XDN) beginning Jan. 2, 2008. Options on dollar-settled World Currency Options currently trade in nickel and dime increments.

"With the move to penny increment trading on January 2, retail investors can employ greater price precision to execute foreign currency option trades," said Daniel R. Carrigan, PHLX’s vice president of new product development. “Since their debut, PHLX World Currency Options have continuously set open interest records (825,126 contracts as of Dec.11) reflecting investor interest to diversify portfolio holdings,” he said.

The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,639 equity options, 18 sectors index options, options on all major currencies, and futures through its subsidiary, The Philadelphia Board of Trade (PBOT). For more information about the PHLX and its products, visit www.phlx.com.