PBoT launch delayed again, functionality added

Philadelphia Stock Exchange (PHLX)'s planned futures and options subsidiary, Philadelphia Board of Trade (PBoT), has delayed its launch until the second quarter to increase functionality on the trading platform.

The exchange has switched its target launch date to June having previously announced a first quarter opening, itself a year later than originally anticipated (see FO Week Vol 10 No 48). Exchange officials said the delay was partly to do with making sure ISVs and member firms can use the full functionality of the PHLX XL electronic trading platform. That system will bring streaming quotes to futures customers.

PBoT officials have promoted the exchange as an innovative market for futures and binary event driven options...