The Boston Options Exchange “BOX” will eliminate trading fees for three exchange traded funds “ETF’s”. They will eliminate the fees on three ETF’s in hopes to gain business in options trading for these funds. The three ETF’s are SPDR Trust Series (SPY), the PowerShares QQQ Trust (QQQQ) and the iShares Russell 2000 Index Fund (IWM).Tennille Tracy from the Online WSJ Reports “Collectively, these funds fueled 16% of the option market’s volume between January and the end of May, according to the Options Clearing Corp.”
“The Boston exchange’s new fee policy goes into effect July 1. It follows a move in May by International Securities Exchange Holdings to eliminate customer transaction fees for options on ETFs that were listed on multiple exchanges, as well as indexes,” Tracy Reports.
“In addition to the SPDR Trust and iShares funds, which the Boston exchange targeted, the action taken by the International Securities Exchange also covered the Financial Select Sector SPDR Fund, a popular fund that tracks financial companies,” Tracy Reports.
If you are an active trader of these funds, this presents a great opportunity to save on trading fees!
Full Story: Here
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