An article you may find interesting: http://www.wallstreetandtech.com/story/electronicTrading/WST20021007S0003
The PCX has dropped to fifth! Why would you need to stand in a pit six and a half hours and develope back problems? Wouldn't this hasten the floors demise? On the CBOE: They must be colluding with chiropractors. That's the reason it has taken four years to roll these things out. People knew electronic trading was going to kick the floors butt four years ago but the reactionary forces were too myopic to look beyond the current power structure which had served them so well for many years. It is interesting but doesn't goes far enough. Looking on the PCX website, it says that quotes are only good for 1 up on firm and mm orders. They still can't let that go. There was an article recently about the BOX: Article on BOX