Transaction rates would increase. We would want to have the opportunity to complete additional testing in July and August with the industry. We expect that our traders, clearing clients, and prime brokers would realize most of the confusion associated with dual pricing. The brokers and traders will be required to keep track of pricing requirements by security. Errors made as a result of dual pricing could impact customer confidence.
Dual pricing is feasible.
Commenters are requested to offer specific views on the optimal schedule for implementing decimal pricing in options based on exchange-listed and Nasdaq stocks subject to decimal pricing. The price for an option should change to decimal when the underlying security price changes to decimal.