Memorandum1 TO: FROM: Cc: DATE: RE | HOME

Aug 14, 2009 · higher for pilot stocks. The difference is statistically significant. For the change ... 1 cent 5 cents 10 cents 1 cent 5 cents 10 cents Current Penny Pilot 42% 8% 50% 12% 16% 73% CBOE proposal 44% 49% 7% 6% 50% 43% ... one penny under different thresholds. QQQQ data is also included for comparison purposes. ................
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