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OEX volume is up about 30% post split...it appears that most of the
business is trading...not based on notional value. Most of the trading
in SPX appears to be based on notional value as opposed to "trading"
activity.
The split was an attempt to broaden the market as it appeared that the
public had exited because of the premium values and with the thought
that SPX covered that range of pricing choices. SPX with a 1000
value...OEX with a value 1/2 that and DJX at a lower price point.
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