The oldest U.S. securities market looks to close its options floor

May 9, 2006

The Philadelphia Stock Exchange’s Chief Executive Sandy Frucher said on Tuesday he expects the exchange’s options floor to close within the next couple of years as electronic trading takes over.

The news, broken at the Reuters Exchanges and Trading Summit on Tuesday, comes on the heels of a January disclosure by the exchange — the oldest U.S. securities market — that it planned to eliminate floor trading in equities and move to a fully automated platform by mid-year.
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