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PHLX SETS EQUITY AND CURRENCY OPTION TRADING RECORDS FOR 1992

 PHILADELPHIA, Dec. 31 /PRNewswire/ -- The Philadelphia Stock Exchange (PHLX) announced today record 1992 volume in its equity and currency markets, with total equity volume topping one billion shares for the first time.
 Based on preliminary figures for 1992, PHLX equity volume reached a record 1.1 billion shares, up 24 percent from 1991. The PHLX trades more than 2200 stocks. The number of equity trades rose 39 percent to a record 1.8 million trades, compared to 1.3 million trades during 1991.
 Preliminary volume figures also show that equity volume and trades executed through PACE (Philadelphia Automated Communication and Execution System), PHLX's automatic delivery and execution system for retail orders, jumped 44 percent over 1991, also representing new record volume levels.
 "Increased participation in the PHLX marketplace reflects the PHLX's ability to respond to investors' needs for liquid and accessible markets," said Joseph Rizzello, PHLX senior vice president.
 PHLX currency volume also set records in 1992. Total PHLX currency option volume rose 13 percent above 1991 volume to 12.2 million contracts, representing approximately $550 billion in underlying value. Total 1992 currency volume was up 7 percent from the previous record of 11.42 million contracts traded in 1989.
 The PHLX trades American and European-style currency options on the Australian dollar, British pound, Canadian dollar, Deutsche mark, European currency unit, French franc, Japanese yen, and Swiss franc, as well as Deutsche mark/Japanese yen and British pound/Deutsche mark cross rate options.
 Highlights on the PHLX currency option floor during 1992 including a new single month volume record of 1,635,407 contracts traded in September, surpassing by 30 percent, the previous record month of May, 1989 when 1,278,656 contracts traded. In addition, currency option open interest, a measure of long term market positions that reflect hedging and risk-management use of these markets, set a record on Dec. 10, 1992 of 1,422,764 contracts. A record 180,000 French franc option contracts, representing $8.1 billion in underlying value, were executed on the PHLX in March, the largest single transaction ever executed on an exchange floor.
 PHLX equity and index option volume slipped 7 percent to a preliminary 10.7 million contracts, compared to 11,517,364 contracts during 1991. PHLX trades five index options and over 230 equity options.
 Complete and final PHLX volume figures for 1992 will be released in early January, the Exchange said.
 The PHLX is the nation's oldest securities exchange and a market leader in trading stocks and options. Founded in 1790, PHLX originated trading in foreign currency options, and today is the world's largest exchange-traded market for these options.
 -0- 12/31/92
 /CONTACT: Lynda O. Lucker of PHLX, 215-496-5200, or Ian Colley of The Weiser Walek Group, 212-684-4440, for PHLX/


CO: Philadelphia Stock Exchange ST: Pennsylvania IN: FIN SU:

TM-OS -- NY022 -- 0909 12/31/92 12:47 EST
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Date:Dec 31, 1992
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