CBOE to fight SEC plan to cap options trades
The Chicago Board Options Exchange plans to oppose U.S. regulators' proposal to cap fees on equity-derivatives trades at 30 cents, according to Edward Tilly, vice chairman of the venue.
The Securities and Exchange Commission proposal would apply to all contracts, including proprietary products such as those linked to the Standard & Poor's 500 Index, which are listed exclusively by CBOE. Those are the third-most-traded options in the U.S.
Tilly told reporters at an options industry conference in Phoenix April 30 that the plan "just doesn't make sense."
CBOE, the largest of eight U.S. equity derivatives markets by volume, has the exclusive right to list options on the S&P 500 and S&P 100 indexes until 2018.
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