Options exchange leaders have reacted angrily to new entrant Nasdaq’s pricing plans.

Nasdaq will launch its options business on 7 December if it gets regulatory approval.

The new exchange will introduce a price-time order book and allow customers to enter nickel and dime priced options in pennies, even though they will be filled in nickel and dime prices. This is a different approach to the both the Price Improvement Period (PIP) offered at Boston Options Exchange and International Securities Exchange’s Price Improvement Mechanism.

“I...