Meyer “Sandy” Frucher, Chairman and CEO of the Philadelphia Stock Exchange (PHLX), has the following statement:
"We applaud the SEC's action today in exempting options market makers from the "pre-borrow" requirement of the Emergency Order. We believe this was absolutely necessary for the liquidity providers that make markets on our options exchange. We are pleased with this outcome.”
The Philadelphia Stock Exchange was founded in 1790. The PHLX trades more than 7,000 stocks, 2,600 equity options, 15 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
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