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Pacific-CBOE Announcement Expected

July 23, 1998|Times Staff

The 116-year-old Pacific Exchange is expected today to announce details of a merger or strategic alliance with the Chicago Board Options Exchange. Pacific officials met in Carmel to mull a merger offer from the CBOE. The Pacific is the nation's third-largest stock options trading market and the second-largest regional stock exchange. The CBOE is the largest stock options market. A deal could mean the spinoff and-or closure of the Pacific's two stock exchange floors, in Los Angeles and San Francisco, some industry experts say.

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