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Cancel Fees Aggravate Options Traders

Traders Magazine, November 2006

Nina Mehta

Order cancellation fees at options exchanges are a thorn in the side of some active customers-and as the industry moves toward trading in decimal increments next year, those same fees could limit growth in the booming options market, observers believe. "Don't get us caught in your net," Jerrell Watts told the International Securities Exchange at a Futures Industry Association conference on the options industry in September. Watts, a managing director at Merrill Lynch, is responsible for the firm's global order flow and risk aggregation strategy for equity options.

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