Intntl Sec Exchange (NYSE:ISE)
Historical Stock Chart
From Oct 2019 to Oct 2024
The International Securities Exchange (NYSE: ISE)
announced today the introduction of a Second Market that will list
approximately 850 additional equity options. The "Second Market" will
leverage ISE's existing highly flexible technology and scalable
infrastructure. The listing of these equity options classes will
double the total number of options classes traded at ISE. Trading is
scheduled to begin in the third quarter of 2006, pending SEC approval.
"We originally launched ISE with a focus on those equity options
that represented 90% of the volume to bring competition to this
market. In response to our members' request that we provide
competitive, deep markets in these options, we have decided to expand
our trading into additional, less liquid issues," said David Krell,
President and Chief Executive Officer of ISE. "This will provide our
customers with all the advantages they have come to associate with
trading on the ISE in our "First Market" and the benefits of a truly
competitive marketplace."
Options classes traded in the Second Market will comply with
existing listing requirements and trade under existing ISE trading
rules. Existing market makers will be eligible to make markets in the
Second Market, and participation will not require purchasing an
additional membership. Market Makers in the Second Market will be
given the freedom to choose which options classes they wish to trade
and a single monthly access fee will allow them to make markets in all
of the options classes in the Second Market. New market makers who
have not purchased trading rights in the First Market (CMM
Memberships) will be able to make markets in the Second Market without
purchasing a trading right. ISE anticipates that this open access
structure will attract new market makers for trading in these issues.
ISE Background
The International Securities Exchange (ISE) is an innovative
securities market, founded on the principle that technology and
competition create better, more efficient markets for investors. ISE
is the largest equity options exchange and is among the leading
options exchanges in the world. ISE developed a unique market
structure for advanced screen-based trading systems and in May 2000
launched the first fully electronic US options exchange. The ISE Stock
Exchange LLC will launch in the third quarter of 2006 with strategic
partners, offering an innovative MidPoint Match platform, followed by
a fully integrated displayed Best Bid Offer (BBO) market in the fourth
quarter. ISE is also a majority owner of Longitude LLC, an innovative
platform for events markets trading, and offers enhanced market data
products for sophisticated investors.
ISE continually enhances its trading systems and develops new
products, including index options and market data, to provide
investors with the best marketplace and investment tools to trade
smarter. For more information about ISE, its options products and its
technology, visit www.iseoptions.com and for more information about
the ISE Stock Exchange LLC, visit www.isestock.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.