PHLX Files Cross Rate Options Contracts Early ‘91 Start? Size, Denomination Eyed
EXCHANGES
The Philadelphia Stock Exchange (PHLX) filed a proposal with the Securities and Exchange Commission (SEC) late last week to trade three cross rate currency options contracts. The exchange hopes to get the options contracts trading early next year, according to PHLX senior vice president Joseph Rizzello.
The move, which was widely expected (FX Week, June 8), follows proposals by the Chicago Mercantile Exchange (CME) and the Twin Cities Board of Trade (TCBT) to trade cross rate products.
Although
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