New Options Rules: The SEC said it...

New Options Rules: The SEC said it has approved a phased-in system to allow stock options to be traded on multiple exchanges, opening the market to total multiple trading in less than two years. Under the ruling, each options exchange will be allowed on Jan. 22, 1990, to list up to 10 additional stock options classes that overlie stocks trading on other options exchanges on or before that date. On Jan. 21, 1991, no options exchange can limit its ability to list any stock options class because it is listed on another options exchange--thereby opening the entire system to total multiple trading.