US index option licenses under fire

15 Sep 2003

Pacific Exchange (PCX) has backed International Securities Exchange (ISE)'s call for an end to exclusive licensing agreements for index options.

PCX chairman and ceo Philip DeFeo wrote to Securities and Exchange Commission (SEC) asking for a moratorium on the exclusive listing of any new index options products. He also called on SEC to prohibit any exchange from being a party to an exclusive or preferential agreement to trade index...

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