The Boston Options Exchange announced Friday it will drop a pricing scheme for some options contracts after it failed to draw business.

The move follows a similar fee shake-up in June, aimed at attracting more trade in options on exchange-traded funds.

The Boston Options Exchange, or BOX, now plans to eliminate so-called "make or take" pricing on options that trade in penny increments, pending approval from the Securities and Exchange Commission.

Under this pricing scheme, exchange customers who remove liquidity from markets in penny-priced options pay a fee, whereas customers providing liquidity earn rebates.

The maker-taker model for options, also employed by NYSE Euronext (NYX) and Nasdaq OMX (NDAQ), is geared toward high-speed electronic participants that move in and out of markets rapidly.

"Make or Take pricing was an experiment which failed to raise BOX's market share," said William Easley, vice chairman of BOX, in a statement. "We often found ourselves as last choice on inter-market linkage routers even when we matched [the national best bid or offer]."

Starting in September, BOX's public customers won't have to pay a trading fee on the 57 classes of penny-priced options, whereas all other customers will pay 20 cents per contract.

In July, the all-electronic BOX market dropped taker fees on three ETFs in a bid to boost volume - the SPDR Trust Series I (SPY), the PowerShares QQQ Trust (QQQQ) and the iShares Russell 2000 Index Fund (IWM).

-By Jacob Bunge, Dow Jones Newswires; (312) 750 4117; jacob.bunge@dowjones.com