NEW YORK -- The American Stock Exchange has begun trading options on the stocks of First Security Corporation, Summit Bancorporation and Mercantile Bancorporation Inc.

First Security, based in Salt Lake City, Utah, will trade under the symbol FQB and will have initial expiration months of December 1994, January, March, and June 1995.

Summit Bancorporation, based in Chatham, N.J., trades under the synbol UTQ and has the same expiration months.

Mercantile Bancorporation, a St. Louis-based holding company, trades under the symbol MTL and also has the same expiration months.

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