The Boston Options Exchange, the new all-electronic US equity options market, is saving users an average of over $2 per contract, according to senior figures at the exchange.

Bertrant Luc, vice-chairman of BOX, and chief executive of the Montreal Exchange said:" Through BOX's PIP system we are making real progress in addressing some of the Securities and Exchange Commission's concerns about option trading practices, and in ensuring that end clients get the best possible pricing. There are literally millions of dollars that are up for grabs and that BOX aims to save."