Intntl Sec Exchange (NYSE:ISE)
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In second table titled "Equity Options Volume
Statistics", the Customer, Firm and Market Maker market share
statistics have been revised.
The corrected release reads:
ISE REPORTS MONTHLY VOLUME FOR MARCH 2006; AVERAGE DAILY VOLUME OF
2.1 MILLION CONTRACTS, UP 27% FROM MARCH 2005
The International Securities Exchange, Inc. (NYSE:ISE) today
reported that average daily trading volume for equity and index
options contracts for March 2006 increased 26.5% to 2.1 million
contracts as compared to 1.7 million contracts during the same period
in 2005. Total equity and index options volume for the month increased
32.3% to 49.2 million contracts from 37.2 million contracts in the
same year-ago period.
On a year-to-date basis, average daily trading volume of equity
and index options increased 37.6% to 2.4 million contracts traded as
compared to 1.7 million contracts traded in the prior year. Total
equity and index volume through March 2006 increased 39.9% to 147.8
million contracts from 105.7 million contracts in the same period last
year.
As was the case in prior months, we witnessed trading activity
among options market makers on certain other exchanges related to
dividend trades. The trading activity associated with dividend trades
once again allowed traders to profit at the expense of investors who
failed to exercise their call options immediately prior to a stock
going ex-dividend. If the volume from the largest dividend trades were
excluded from the data, our market share of equity options for the
month of March would increase to 34.3% from 32.3%, an increase of 2.0
market share points. On a year-to-date basis our market share would
increase to 34.6% from 32.7%, an increase of 1.9 market share points,
if the volume from the largest dividend trades were excluded. The
exclusion of dividend trades from total industry volume data presents
a more relevant measure of the relative trends in our business.
-0-
*T
Equity and Index Options Volume Statistics
----------------------------------------------------------------------
Current Month
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,139.2 1,690.6 26.5%
ISE Total Volume 49,202.3 37,193.6 32.3%
Industry Average Daily Volume 7,137.2 5,635.1 26.7%
Market Share 30.0% 30.0% 0.0 pts
----------------------------------------------------------------------
ISE Market Share: Customer 31.7% 30.3% 1.4 pts
ISE Market Share: Firm 24.2% 22.6% 1.6 pts
ISE Market Share: Market Maker 30.3% 31.8% (1.5) pts
----------------------------------------------------------------------
Year-to-Date
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,384.1 1,732.6 37.6%
ISE Total Volume 147,815.1 105,687.3 39.9%
Industry Average Daily Volume 7,827.7 5,699.9 37.3%
Market Share 30.5% 30.4% 0.1 pts
----------------------------------------------------------------------
ISE Market Share: Customer 32.1% 30.7% 1.4 pts
ISE Market Share: Firm 24.9% 21.2% 3.7 pts
ISE Market Share: Market Maker 30.6% 32.6% (2.0) pts
----------------------------------------------------------------------
Equity Options Volume Statistics
----------------------------------------------------------------------
Current Month
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,115.1 1,679.2 26.0%
ISE Total Volume 48,646.5 36,943.0 31.7%
Industry Average Daily Volume 6,548.9 5,130.6 27.6%
Market Share 32.3% 32.7% (0.4) pts
----------------------------------------------------------------------
ISE Market Share: Customer 34.0% 32.7% 1.3 pts
ISE Market Share: Firm 26.8% 25.4% 1.4 pts
ISE Market Share: Market Maker 32.5% 34.8% (2.3) pts
----------------------------------------------------------------------
Year-to-Date
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,356.4 1,727.2 36.4%
ISE Total Volume 146,095.3 105,360.8 38.7%
Industry Average Daily Volume 7,201.7 5,223.2 37.9%
Market Share 32.7% 33.1% (0.4) pts
----------------------------------------------------------------------
ISE Market Share: Customer 34.2% 32.7% 1.5 pts
ISE Market Share: Firm 27.6% 24.7% 2.9 pts
ISE Market Share: Market Maker 32.8% 34.3% (1.5) pts
----------------------------------------------------------------------
Index Options Volume Statistics
----------------------------------------------------------------------
Current Month
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 24.2 11.4 112.2%
ISE Total Volume 555.8 250.5 121.9%
Industry Average Daily Volume 588.4 504.5 16.6%
Market Share 4.1% 2.3% 1.8 pts
----------------------------------------------------------------------
Year-to-Date
(000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 27.7 5.4 418.2%
ISE Total Volume 1,719.8 326.6 426.7%
Industry Average Daily Volume 625.9 476.7 31.3%
Market Share 4.4% 1.1% 3.3 pts
----------------------------------------------------------------------
*T
Monthly Highlights
-- ISE was the largest U.S. equity options exchange in March.
-- On March 17, 2006 ISE declared a quarterly dividend of $0.05
per outstanding share of its Class A Common Stock, payable on
March 31, 2006 to holders of record as of the close of
business on March 23, 2006.
-- On March 20, 2006 ISE was added to the Dow Jones Global
Exchange Index.
-- ISE traded more volume in 657 of 878 issues in its listings
than any other options exchange.
ISE Background
The International Securities Exchange, the world's largest equity
options exchange, was founded on the principle that technology fosters
and infuses new efficiencies and operational innovations into
securities trading. After developing an innovative market structure
that integrated auction market principles into an advanced
screen-based trading system, ISE launched the first fully electronic
US options exchange in May 2000. ISE continually enhances its trading
systems to provide investors with the best marketplace to execute
their options orders.
For more information about ISE, its products and its technology,
visit www.iseoptions.com.
This press release contains "forward looking statements." These
statements relate to future events or our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from those
contemplated by the forward looking statements. We undertake no
ongoing obligation, other than that imposed by law, to update these
statements. Factors that could affect our results, levels of activity,
performance or achievements and cause them to materially differ from
those contained in the forward looking statements can be found in our
filings with the Securities and Exchange Commission, including our
registration statements on Form S-1, current reports on Form 8-K and
quarterly reports on Form 10-Q, as amended.