The BOX Options Exchange has reported?average daily trading volume in January was 311,750 contracts, an 11% increase compared to the previous month.
January price improved contracts averaged 97,050 per day. Price improvement versus the prevailing NBBO for contracts submitted via BOX?s price improvement auction, PIP, averaged $267,560 per day; total savings to investors in January was $5.6 million.?
From this, BOX has saved investors over $472 million since its 2004 inception. ?
In other BOX news from its February newsletter, the exchange has received approval to remove the BOX-Top Order?type operative on February 18, 2014. This has?become obsolete thanks to participants’ preferences for?Market Orders, according to the exchange. Here’s more information in BOX’s?IC-2014-002.?
BOX has also received approval to amend the Automatic Quote?Cancellation Rule operative ?on February 6, 2014. According to BOX?Rule 8130, “there are five triggering parameters that Market?Makers can enable on a class-by-class basis; it is
mandatory for Market Makers to enter values in at least one?triggering parameter for each of their appointed options?classes.” More information on this can be found in?IC-2014-003.