Nasdaq price improvement roils penny programme
09 May 2008
Nasdaq Options Market’s price improvement functionality raised the debate over pennies at the Options Industry Conference in Las Vegas last weekend, pushing one exchange executive to call for all US equity options to be quoted in pennies.
Speaking on a panel, Gary Katz, president and CEO of International Securities Exchange (ISE), said the penny pilot programme may as well be expanded across all classes because Nasdaq is already essentially offering penny trading regardless of whether they are quoted in pennies, nickels or dimes. Nasdaq opened in March with a new...
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