The BOX Options Exchange (BOX) announced today it has achieved half a billion dollars in savings for investors through its price improvement period (PIP). In addition, for April, the exchange saw price improved contracts averaging 300,510 per day, which represented a 38% increase over the same period last year.
Tony McCormick, CEO of BOX, said in a press release,??BOX revolutionized the options world when it launched PIP with its ability to deliver better prices with price improvement just 10 years ago. Our value continues to be proven with the realization of over half a billion dollars in total savings to investors.?
During April, price improvement versus the prevailing NBBO for contracts submitted via BOX?s price improvement auction, PIP, averaged $466,285 per day, while total savings to investors was $9.8MM. Overall average daily trading volume on BOX for the month of April was 453,931 contracts, an increase of 23% over the same period last year.