ISE Announces ISE FX Options(TM) Launch on April 17

  
    
  
  
    
      The International Securities Exchange (NYSE:ISE) today announced that ISE 
      FX Options will begin trading on Tuesday, April 17. On April 3, 
      the SEC approved ISE’s rule filing for its 
      foreign currency options, clearing the way for the upcoming launch. 
      Trading will initially take place in the following four currency pairs: 
      USD/EUR (Symbol:EUI), USD/GBP (Symbol:BPX), USD/JPY (Symbol:YUK), and 
      USD/CAD (Symbol:CDD).
    
    
      David Krell, ISE’s President and Chief 
      Executive Officer, said, “We are excited to 
      announce the imminent launch of ISE FX Options, which will allow 
      investors to gain foreign currency exposure through an exchange-traded 
      product. We structured ISE FX Options using a straightforward 
      convention that will enable current options investors to easily trade 
      these products through their existing brokerage accounts.”
    
    
      Timber Hill LLC will serve as the Primary Market Maker (PMM®) 
      in all four of the currency pairs that will initially launch. 
      Additionally, Citigroup Derivatives Markets Inc., Lehman Brothers Inc., 
      and Optiver US, LLC will act as Competitive Market Makers (CMMs®) 
      in a variety of the products.
    
    
      ISE FX Options provide investors with exposure to rate movements 
      in the global foreign currency markets and allow traders to express 
      their views on the strength or weakness of the US dollar without the 
      need to hold the actual foreign currency. As exchange-listed securities, ISE 
      FX Options can be easily accessed through most major brokerage 
      accounts that are approved for trading equity and index options. These 
      products will be cash-settled and have European style exercise.
    
    
      Investors can access the underlying rates for ISE FX Options from 
      several leading market data vendors and financial websites, including 
      Bloomberg, ILX, Reuters, and Yahoo! Finance. All ISE FX Options 
      have U.S. Dollar-based underlying values, which are scaled as needed to 
      create an underlying value similar to traditional equity or index 
      options. For example, if the current USD/EUR rate is .7829 (0.7829 EUR 
      per 1.0 USD), the underlying value for the USD/EUR ISE FX Option 
      would be 78.29.
    
    
      
        
        
        
        
        
          USD/EUR
        
        
        
        
          USD/GBP
        
        
        
        
          USD/JPY
        
        
        
        
          USD/CAD
        
        
        
      
      
        
          Bloomberg
        
        
        
        
          EUI 
        
        
        
        
          BPXX 
        
        
        
        
          YUK 
        
        
        
        
          CDD 
        
        
        
      
      
        
          ILX
        
        
        
        
          EUI
        
        
        
        
          BPX
        
        
        
        
          YUK
        
        
        
        
          CDD
        
        
        
      
      
        
          Reuters
        
        
        
        
          .EUI
        
        
        
        
          .BPX
        
        
        
        
          .YUK
        
        
        
        
          .CDD
        
        
        
      
      
        
          Yahoo! Finance
        
        
        
        
          ^EUI
        
        
        
        
          ^BPX
        
        
        
        
          ^YUK
        
        
        
        
          ^CDD
        
        
        
      
    
    
      NOTE TO EDITORS: There is a caret preceding each of the symbols listed 
      on the Yahoo! Finance line in the above chart. This symbol may not 
      appear properly in some systems.
    
    
      For more information, please visit www.isefxoptions.com.
    
    
      ISE Background
    
    
      International Securities Exchange Holdings, Inc. (NYSE: ISE), through 
      its subsidiaries, operates a family of innovative securities markets. 
      ISE is founded on the principle that technology and competition create 
      better, more efficient markets for investors and consists of an options 
      exchange, a stock exchange and an alternative markets platform. ISE 
      continually enhances its trading systems and develops new products to 
      provide investors with the best marketplace and investment tools to 
      trade smarter.
    
    
      ISE developed a unique market structure for advanced screen-based 
      trading systems and in May 2000 launched the first fully electronic US 
      options exchange. Currently, ISE operates the largest U.S. equity 
      options exchange and is among the leading options exchanges in the 
      world. ISE offers index options, including a portfolio of proprietary 
      index products, and enhanced market data products for sophisticated 
      investors. ISE FX Options™ are slated to 
      launch in the second quarter of 2007.
    
    
      ISE Stock Exchange, launched in September 2006 with strategic partners, 
      includes an innovative MidPoint Match™ 
      platform which offers investors continuous price improvement. MidPoint 
      Match was integrated with a fully displayed Best Bid Offer market in the 
      fourth quarter of 2006.
    
    
      ISE’s alternative markets business currently 
      consists of an events market trading platform known as Longitude. 
      Longitude’s patented and proprietary 
      technology provides a unique parimutuel structure for derivatives 
      auctions which results in greater trading and pricing flexibility for 
      market participants.
    
    
      For more information about ISE and its options exchange, visit www.iseoptions.com 
      and for more information about ISE Stock Exchange, visit www.isestock.com. 
      Additionally, to learn more about ISE alternative markets technology, 
      visit www.longitude.com.
    
    
      Forward Looking Statements
    
    
      Certain matters discussed in this press release are “forward 
      looking statements” intended to qualify for 
      the safe harbor from liability established by the Private Securities 
      Litigation Reform Act of 1995. 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 annual report on Form 10-K, current reports on 
      Form 8-K and quarterly reports on Form 10-Q, as amended.