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ISE Wins Clean Cross Battle

Traders Magazine, April 2011

Peter Chapman

The Securities and Exchange Commission's decision to approve a new order type at the International Securities Exchange could open a new era of institutional options trading. In February, the SEC brushed aside complaints from competing exchanges and market makers and permitted the all-electronic ISE to offer "clean" crosses for so-called delta neutral trades. These are trades whose executions are dependent on executions of a related stock order.

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