Industry Preps for Penny-Options Jolt

FRONT PAGE: INDUSTRY ISSUES

The market data industry is bracing for more options market data traffic as the Securities and Exchange Commission prepares to begin quoting options contracts in penny increments.

SEC chairman Christopher Cox recently wrote to US options exchanges announcing a test period for penny quoting, beginning Jan. 29, 2007, "to study the impact of penny quoting on market quality and systems capacity requirements." The SEC has also scheduled a face-to-face meeting with the exchanges later this month, a

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