Philadelphia Stock Exchange to Begin Trading Options on Freeport McMoran Copper & Gold Class B

Strategic Insights -

The Philadelphia Stock Exchange (PHLX) is set to introduce options trading on Freeport McMoran Copper & Gold Class B (FXB) on August 7, 1995, marking a significant expansion of the exchange's offerings. This new addition is facilitated by TFM Investment Group, the exchange's largest equity options specialist firm, which has been appointed as the specialist unit for the new option. The introduction of options trading on FXB is expected to further solidify the PHLX's position as a market leader in trading over 2,500 stocks and 370 equity, index, and currency options.

Key Takeaways:

  • The Philadelphia Stock Exchange (PHLX) will begin trading put and call options on Freeport McMoran Copper & Gold Class B (FXB) on August 7, 1995.
  • TFM Investment Group, the PHLX's largest equity options specialist firm, has been appointed as the specialist unit for the new option.
  • Options on FXB will trade on the February expiration cycle.
  • TFM Investment Group will offer an automatic execution (AUTO-X) of up to 20 contracts for orders executed through PHLX's automatic execution system for equity and sectors index options, known as AUTOM.
  • The PHLX is the oldest securities exchange in the U.S. and the nation's fastest growing sectors index options exchange.
  • The exchange trades over 2,500 stocks and over 370 equity, index, and currency options.

Statistics:

  • The PHLX will begin trading options on FXB on August 7, 1995.
  • Options on FXB will trade on the February expiration cycle.
  • TFM Investment Group will offer automatic execution of up to 20 contracts for orders executed through PHLX's AUTOM system.
  • The PHLX is the oldest securities exchange in the U.S. (founded in 1790).
  • The PHLX trades over 2,500 stocks.
  • The PHLX trades over 370 equity, index, and currency options.

Sources:

  • PRNewswire, "Philadelphia Stock Exchange to Begin Trading Options on Freeport McMoran Copper & Gold Class B," Aug. 2, 1995.
  • Philadelphia Stock Exchange, press release.