SOURCE: BOX Options Exchange
BOSTON, MA--(Marketwired - May 08, 2014) - The BOX Options Exchange (BOX) announced today it has achieved half a billion dollars in savings for investors through its price improvement period (PIP). April was also an impressive month in BOX's history with price improved contracts averaging 300,510 per day, which represented a 38% increase over the same period last year.
"BOX revolutionized the options world when it launched PIP with its ability to deliver better prices with price improvement just 10 years ago," said Tony McCormick, CEO of BOX. "Our value continues to be proven with the realization of over half a billion dollars in total savings to investors."
Price improvement versus the prevailing NBBO for contracts submitted via BOX's price improvement auction, PIP, averaged $466,285 per day, while total savings to investors this month was $9.8MM. Overall average daily trading volume on BOX in the month of April was 453,931 contracts, an increase of 23% over the same period last year.
About BOX: The BOX Options Exchange is an all-electronic equity options market that is jointly owned by the TMX Group and seven broker dealers. BOX was established in 2002 and launched trading in February 2004 as an alternative to market models in existence at this time. Since inception, BOX has provided its Participants with an efficient and transparent marketplace, cutting edge technology and best price filtering for customer order execution. For more information, see the BOX website: www.boxexchange.com.