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pls do
not keep us in suspense which one is up
<FONT face=Tahoma
size=2>-----Original Message-----From: Jacobson, Alex
[mailto:AJacobson@xxxxxxxxxxxxxx]Sent: Tuesday, March 19, 2002
12:25 PMTo: 'realtraders@xxxxxxxxxxxxxxx'Subject: RE:
[RT] Seats at Amex options exchange plummetingSeat
prices are actually up on one exchange. -----Original
Message-----From: Gary Funck [mailto:gary@xxxxxxxxxxxx]Sent: Tuesday,
March 19, 2002 11:43 AMTo: Realtraders@xxxxxxxxxxxx ComSubject: [RT]
Seats at Amex options exchange plummeting<A
href="http://www.iht.com/articles/51693.html";>http://www.iht.com/articles/51693.htmlCheap
seats on the floorElizabeth Reed Smith The New York TimesTuesday,
March 19, 2002Prices plunge for options exchange membershipNEW
YORK The value of seats on U.S. options exchanges has been
plunging.Traders who paid as much as $19,500 a month to do business on the
AmericanStock Exchange in August 2000 are now signing leases for as little
as $1,500amonth.The price declines have been distressing for
people who bought the seats asinvestments, expecting them to appreciate.
"This is a painful period we'reenduring," said Paul Liang, who manages PBL
Partners, a fund based inChicagothat invests in seats on options
exchanges. The fund's value has plummetedto$14.7 million from $70
million at its peak in 1999, he said.Ownership of seats has become
less desirable because of the protracted bearmarket, competition among
exchanges, the birth of an electronic market andshifts in trading
practices that make options prices more transparent. Butthose same
changes, people in the industry say, may benefit individualinvestors by
cutting trading costs.[...]To unsubscribe from this
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