Very intersting stuff in the last week with the BOX ISSUE. SEC approved the BOX and its comish structure as well as the PIP. CBOE HAS FILED to also gain PIP privillages however, TIMBERHILL,who is backing the BOX has filled for a paten on the PIP (price improvement) idea and softwear. (intellictual property paten) This is a strange issue at hand. PIP only allows the BOX mms to price improve by pennies but yet still qoute in Nickles. However, PIP is not allowed by customers. Very strange indeed.....BOX is schedual to go live ..very soon, dates always change. IMHO, the BOX as an electronic platform is a welcome. However the PIP sounds like the BOX is trying to corner the Options market. Not to mention 6 exchanges which will be a bit much. Im sure we will see some consolidation in exchanges once the kinks are ironed out with the introduction of the BOX. both the BOX homepage and the CBOE page has interesting information for further indeepth read.