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CBOE LISTS END-OF-QUARTER S&P 500 INDEX OPTION EXPIRATIONS FEB. 22

 CHICAGO, Feb. 18 /PRNewswire/ -- Beginning on Monday, Feb. 22, the Chicago Board Options Exchange (CBOE) will list end-of-quarter and year- end S&P 500 index options for the four nearest quarters (March, June, September and December 1993) under the ticker symbol SPQ.
 SPQ options will expire on the first business day of the month following the end of a calendar quarter, but the exercise settlement value will be based on thE closing S&P 500 index value on the last trading day, which is the last business day of the preceding calendar quarter. Example: The last trading day for March 1993 SPQ options will be March 31. The expiration date for them will be April 1. Under no circumstances will SPQ options expire on an exchange holiday or on a weekend. Strike prices up to 50 points above and below the current index level will be listed.
 "By corresponding to traditional portfolio valuation and accounting periods, quarterly expirations of index options should prove extremely useful to CBOE's growing institutional customer base," said CBOE Chairman and CEO Duke Chapman.
 SPQs, like the corresponding regular S&P 500 index options, have European-style exercise (meaning they can be exercised only on the last business/trading day of the contract).
 CBOE, regulated by the SEC, is the pioneer of listed options and the world's largest options marketplace.
 -0- 2/18/93
 /CONTACT: Patricia Campbell, 312-786-7927, or Bonnie Greenberg, 312-786-7393, both of the Chicago Board Options Exchange/


CO: Chicago Board Options Exchange ST: Illinois IN: FIN SU:

TS -- NY060 -- 7922 02/18/93 13:12 EST
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Date:Feb 18, 1993
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