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BRIEFLY

February 10, 1988

The Chicago Board Options Exchange said it will oversee a plan to refund up to $2 million to as many as 200 customers who suffered heavy losses in the nation's largest stock index options market last October. The exchange will raise the money by charging floor traders in its index options pit a transaction fee, then distribute the funds among brokerage firms that have complained they were overcharged for options contracts on Oct. 20, the day after the stock market collapsed. Details of the plan are still being negotiated, a CBOE spokesman said.

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