An apparatus and method for releasably locking an optical transceiver with respect to a cage attached to an electrical board. The cage having a pair of inwardly biased locking tabs extending from the sides thereof. Each tab is moveable between an inner position and outer position corresponding to a locked and unlocked position respectively. The optical transceiver includes a pair of levers operable for engaging and moving the locking tabs between the biased inner position and the outer unlocked position. The locking mechanism includes a pair latches positioned on each side of the transceiver for engaging and moving the levers between first and second positions to lock and unlock the transceiver from the cage.