The Securities and Exchange Commission recently approved rule filings for each options exchange to extend and expand the current Penny Pilot Program for equity options. Beginning on September 28, 2007, the first phase of the expansion would add twenty-two additional classes to the Pilot. In the second phase, beginning March 28, 2008, another twenty-eight option classes would be added, thus bringing the total number of classes eligible for penny quoting and trading at that time to sixty-three. The initial rollout of the Pilot was completed in February, 2007 and was set to expire before the recent extension and expansion.