NYSE Euronext today said independent research by Transaction Auditing Group Inc. shows NYSE Arca Options offered the best price more often than any other market centre for options that are included in the Securities and Exchange Commission’s penny pilot program.

Across all 13 pilot securities, NYSE Arca Options were, on average, alone at the National Best Bid 6.3% of the time and alone at the National Best Offer 6.2% of the time, it reported. Also, NYSE Arca displayed prices equal to the National Best Bid and Offer more than 78% of the trading day.

Among exchanges quoting the most active equity option, QQQQ, it said NYSE Arca was four times more likely to exclusively display the National Best Bid or National Best Offer. The NYSE Arca quote was equal to the NBBO 78.6% of time, 8.7% more often than the ISE and 29% more often than the CBOE, the exchange added.

“We are very pleased with the results of the pilot program and the overall performance of the NYSE Arca Options platform,” said Lawrence Leibowitz, executive vice president and COO, U.S. Products.