August 31, 2004

Philly's Faster Options Mart

By Gregory Bresiger

The Securities and Exchange Commission has approved an application by the Philadelphia Stock Exchange (PHLX) to expand the electronic functions of its options trading system. PHLX's plan calls for faster and tighter quotes. The PHLX's improvement appears to be part of a trend in which floor-based options exchanges are moving toward hybrid models, which comes at the same time that the NYSE has announced its own hybrid plan.