LOOSE CHANGE

LOOSE CHANGE

The Philadelphia Stock Exchange (Phlx) has introduced trading in standardized Ecu options in preparation for the launch of the euro. The options will trade alongside the existing customized Ecu options currently available at the Phlx. The contracts are designed as a hedge against FX exposure ahead of the conversion to the euro on January 1, 1999, says Paul Adair, senior vice president and head of marketing at Phlx. Pending regulatory approval, the exchange hopes to offer a series of derivat