ISE Reports Monthly Volume for September 2006

  
    
  
  
    
      The International Securities Exchange (NYSE:ISE) today reported that 
      average daily trading volume for equity and index options contracts for 
      September 2006 increased 25.3% to 2.4 million contracts as compared to 
      1.9 million contracts during the same period in 2005. Total equity and 
      index options volume for the month increased 19.3% to 47.3 million 
      contracts from 39.6 million contracts in the same year-ago period.
    
    
      On a year-to-date basis, average daily trading volume of equity and 
      index options increased 38.6% to 2.3 million contracts traded as 
      compared to 1.7 million contracts traded in the prior year. Total equity 
      and index volume through September 2006 increased 37.9% to 439.8 million 
      contracts from 319.0 million contracts in the same period last year.
    
    
      
        
          Equity and Index Options Volume Statistics
        
      
      
        
        
        
          Current Month
        
        
        
        
          Year-to-Date
        
      
      
        
          (000s)
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
        
           
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
      
      
        
          ISE Average Daily Volume
        
        
          2,363.2 
        
        
        
        
          1,886.6 
        
        
        
        
          25.3%
        
        
        
        
          2,339.3 
        
        
        
        
          1,687.8 
        
        
        
        
          38.6%
        
      
      
        
          ISE Total Volume
        
        
          47,264.4 
        
        
        
        
          39,619.2 
        
        
        
        
          19.3%
        
        
        
        
          439,790.4 
        
        
        
        
          318,995.9 
        
        
        
        
          37.9%
        
      
      
        
          Industry Average Daily Volume
        
        
          7,947.8 
        
        
        
        
          6,279.0 
        
        
        
        
          26.6%
        
        
        
        
          7,880.8 
        
        
        
        
          5,623.1 
        
        
        
        
          40.1%
        
      
      
        
          Market Share
        
        
          29.7%
        
        
           
        
        
          30.1%
        
        
           
        
        
          (0.4) pts
        
        
           
        
        
          29.7%
        
        
           
        
        
          30.0%
        
        
           
        
        
          (0.3) pts
        
      
      
        
          Market Share: Customer
        
        
          29.7%
        
        
        
        
          30.9%
        
        
        
        
          (1.2) pts
        
        
        
        
          30.2%
        
        
        
        
          30.2%
        
        
        
        
          0 pts
        
      
      
        
          Market Share: Firm
        
        
          24.8%
        
        
        
        
          23.7%
        
        
        
        
          1.1 pts
        
        
        
        
          25.7%
        
        
        
        
          21.8%
        
        
        
        
          3.9 pts
        
      
      
        
          Market Share: Market Maker
        
        
          31.4%
        
        
           
        
        
          31.2%
        
        
           
        
        
          0.2 pts
        
        
           
        
        
          30.5%
        
        
           
        
        
          32.1%
        
        
           
        
        
          (1.6) pts
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Equity Options Volume Statistics
        
      
      
        
        
        
          Current Month
        
        
        
        
          Year-to-Date
        
      
      
        
          (000s)
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
        
           
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
      
      
        
          ISE Average Daily Volume
        
        
          2,327.4 
        
        
        
        
          1,865.0 
        
        
        
        
          24.8%
        
        
        
        
          2,307.0 
        
        
        
        
          1,672.2 
        
        
        
        
          38.0%
        
      
      
        
          ISE Total Volume
        
        
          46,547.3 
        
        
        
        
          39,165.9 
        
        
        
        
          18.8%
        
        
        
        
          433,724.3 
        
        
        
        
          316,051.9 
        
        
        
        
          37.2%
        
      
      
        
          Industry Average Daily Volume
        
        
          7,215.0 
        
        
        
        
          5,720.3 
        
        
        
        
          26.1%
        
        
        
        
          7,158.7 
        
        
        
        
          5,114.6 
        
        
        
        
          40.0%
        
      
      
        
          Market Share
        
        
          32.3%
        
        
           
        
        
          32.6%
        
        
           
        
        
          (0.3) pts
        
        
           
        
        
          32.2%
        
        
           
        
        
          32.7%
        
        
           
        
        
          (0.5) pts
        
      
      
        
          Market Share: Customer
        
        
          32.0%
        
        
        
        
          33.3%
        
        
        
        
          (1.3) pts
        
        
        
        
          32.5%
        
        
        
        
          32.5%
        
        
        
        
          0 pts
        
      
      
        
          Market Share: Firm
        
        
          27.7%
        
        
        
        
          26.4%
        
        
        
        
          1.3 pts
        
        
        
        
          28.6%
        
        
        
        
          24.5%
        
        
        
        
          4.1 pts
        
      
      
        
          Market Share: Market Maker
        
        
          34.0%
        
        
           
        
        
          33.8%
        
        
           
        
        
          0.2 pts
        
        
           
        
        
          33.1%
        
        
           
        
        
          35.1%
        
        
           
        
        
          (2.0) pts
        
      
      
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
        
           
        
      
      
        
          Index Options Volume Statistics
        
      
      
        
        
        
          Current Month
        
        
        
        
          Year-to-Date
        
      
      
        
          (000s)
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
        
           
        
        
          Sep-06
        
        
           
        
        
          Sep-05
        
        
           
        
        
          % Change 
        
      
      
        
          ISE Average Daily Volume
        
        
          35.9 
        
        
        
        
          21.6 
        
        
        
        
          66.1%
        
        
        
        
          32.3 
        
        
        
        
          15.6 
        
        
        
        
          107.1%
        
      
      
        
          ISE Total Volume
        
        
          717.1 
        
        
        
        
          453.3 
        
        
        
        
          58.2%
        
        
        
        
          6,066.1 
        
        
        
        
          2,944.0 
        
        
        
        
          106.0%
        
      
      
        
          Industry Average Daily Volume
        
        
          732.9 
        
        
        
        
          558.8 
        
        
        
        
          31.2%
        
        
        
        
          722.0 
        
        
        
        
          508.5 
        
        
        
        
          42.0%
        
      
      
        
          Market Share
        
        
          4.9%
        
        
           
        
        
          3.9%
        
        
           
        
        
          1.0 pts
        
        
           
        
        
          4.5%
        
        
           
        
        
          3.1%
        
        
           
        
        
          1.4 pts
        
      
    
    
      Dividend Trade Activity
    
    
      Our market share statistics continue to be negatively impacted by 
      trading activity related to dividend trades among certain options market 
      makers. These trades temporarily inflate and distort trading volume and 
      market share when transacted. If the volume from the largest dividend 
      trades were excluded from the data, our market share of equity options 
      for the month of September would increase to 33.3% from 32.3%, an 
      increase of 1.0 market share point. On a year-to-date basis, our market 
      share would increase to 33.2% from 32.2%, an increase of 1.0 market 
      share point, 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.
    
    
      Monthly Highlights
    
    
      
        ISE was the largest U.S. equity options exchange in September.
      
      
        On September 8, 2006, ISE successfully launched its MidPoint Match™ 
        platform, the first product to debut on the ISE Stock Exchange, LLC. 
        The MidPoint Match platform performed flawlessly and ISE members 
        reacted positively to the system's trading structure and execution 
        speed. Trading was initiated in ten stocks.
      
      
        On September 14, 2006, ISE’s Board of 
        Directors declared a quarterly dividend of $0.05 per outstanding share 
        of its Class A Common Stock, payable on September 29, 2006 to holders 
        of record as of the close of business on September 22, 2006.
      
      
        On September 20, 2006, ISE announced its intent to create and list new 
        foreign currency options, called ISE FX Options™, 
        which will provide retail and institutional investors with a new 
        investment strategy that will enable them to express their views on 
        the strength or weakness of the U.S. Dollar relative to other 
        currencies. ISE will initially list the following four currency pairs: 
        USD/EUR, USD/GBP, USD/JPY, and USD/CAD. Trading in ISE FX Options is 
        expected to begin in the first quarter of 2007, pending regulatory 
        approvals.
      
      
        On September 22, 2006, ISE stock listed an additional 280 stocks on 
        its MidPoint Match platform.
      
      
        On September 27, 2006, ISE announced the official launch of its 
        Historical Options Tick Data™ offering (ISE 
        HOT Data™), the first in its suite of new 
        market data products.
      
      
        On September 29, 2006, ISE added 330 stocks to its MidPoint Match™ 
        platform, bringing the total number of equities traded to 640 
        representing more than 75% of the total market capitalization of U.S. 
        traded securities. Included among the names traded are companies in 
        the S&P 500, select ETFs, several lower-priced stocks, and ISE.
      
      
        ISE traded more volume than any other options exchange in 672 of 941 
        issues in its listings.
      
    
    
      ISE Background
    
    
      The International Securities Exchange, LLC (ISE) is a wholly-owned 
      subsidiary of International Securities Exchange Holdings, Inc. (ISE 
      Holdings). ISE operates 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 launched in September 2006 with strategic partners and 
      offers an innovative MidPoint Match platform, which will be followed by 
      a fully integrated displayed Best Bid Offer market in the fourth 
      quarter. ISE Holdings is also a majority owner of Longitude LLC, which 
      operates an innovative platform for events markets trading. 
      Additionally, ISE 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, 
      for more information about the ISE Stock Exchange, visit www.isestock.com 
      and for more information about Longitude, visit www.longitude.com.
    
    
      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.
    
  
The International Securities Exchange (NYSE:ISE) today reported
that average daily trading volume for equity and index options
contracts for September 2006 increased 25.3% to 2.4 million contracts
as compared to 1.9 million contracts during the same period in 2005.
Total equity and index options volume for the month increased 19.3% to
47.3 million contracts from 39.6 million contracts in the same
year-ago period.

   On a year-to-date basis, average daily trading volume of equity
and index options increased 38.6% to 2.3 million contracts traded as
compared to 1.7 million contracts traded in the prior year. Total
equity and index volume through September 2006 increased 37.9% to
439.8 million contracts from 319.0 million contracts in the same
period last year.

-0-
*T

Equity and Index Options Volume Statistics
----------------------------------------------------------------------
                 Current Month                  Year-to-Date
(000s)    Sep-06    Sep-05   % Change    Sep-06     Sep-05   % Change
----------------------------------------------------------------------
ISE
 Average
 Daily
 Volume   2,363.2   1,886.6      25.3%   2,339.3    1,687.8      38.6%
ISE Total
 Volume  47,264.4  39,619.2      19.3% 439,790.4  318,995.9      37.9%
Industry
 Average
 Daily
 Volume   7,947.8   6,279.0      26.6%   7,880.8    5,623.1      40.1%
Market
 Share       29.7%     30.1% (0.4) pts      29.7%      30.0% (0.3) pts
----------------------------------------------------------------------
Market
 Share:
 Customer    29.7%     30.9% (1.2) pts      30.2%      30.2%     0 pts
Market
 Share:
 Firm        24.8%     23.7%   1.1 pts      25.7%      21.8%   3.9 pts
Market
 Share:
 Market
 Maker       31.4%     31.2%   0.2 pts      30.5%      32.1% (1.6) pts
----------------------------------------------------------------------

Equity Options Volume Statistics
----------------------------------------------------------------------
                 Current Month                  Year-to-Date
(000s)    Sep-06    Sep-05   % Change    Sep-06     Sep-05   % Change
----------------------------------------------------------------------
ISE
 Average
 Daily
 Volume   2,327.4   1,865.0      24.8%   2,307.0    1,672.2      38.0%
ISE Total
 Volume  46,547.3  39,165.9      18.8% 433,724.3  316,051.9      37.2%
Industry
 Average
 Daily
 Volume   7,215.0   5,720.3      26.1%   7,158.7    5,114.6      40.0%
Market
 Share       32.3%     32.6% (0.3) pts      32.2%      32.7% (0.5) pts
----------------------------------------------------------------------
Market
 Share:
 Customer    32.0%     33.3% (1.3) pts      32.5%      32.5%     0 pts
Market
 Share:
 Firm        27.7%     26.4%   1.3 pts      28.6%      24.5%   4.1 pts
Market
 Share:
 Market
 Maker       34.0%     33.8%   0.2 pts      33.1%      35.1% (2.0) pts
----------------------------------------------------------------------

Index Options Volume Statistics
----------------------------------------------------------------------
                 Current Month                  Year-to-Date
(000s)    Sep-06    Sep-05   % Change    Sep-06     Sep-05   % Change
----------------------------------------------------------------------
ISE
 Average
 Daily
 Volume      35.9      21.6      66.1%      32.3       15.6     107.1%
ISE Total
 Volume     717.1     453.3      58.2%   6,066.1    2,944.0     106.0%
Industry
 Average
 Daily
 Volume     732.9     558.8      31.2%     722.0      508.5      42.0%
Market
 Share        4.9%      3.9%   1.0 pts       4.5%       3.1%   1.4 pts
----------------------------------------------------------------------
*T

   Dividend Trade Activity

   Our market share statistics continue to be negatively impacted by
trading activity related to dividend trades among certain options
market makers. These trades temporarily inflate and distort trading
volume and market share when transacted. If the volume from the
largest dividend trades were excluded from the data, our market share
of equity options for the month of September would increase to 33.3%
from 32.3%, an increase of 1.0 market share point. On a year-to-date
basis, our market share would increase to 33.2% from 32.2%, an
increase of 1.0 market share point, 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.

   Monthly Highlights

   --  ISE was the largest U.S. equity options exchange in September.

   --  On September 8, 2006, ISE successfully launched its MidPoint
        Match(TM) platform, the first product to debut on the ISE
        Stock Exchange, LLC. The MidPoint Match platform performed
        flawlessly and ISE members reacted positively to the system's
        trading structure and execution speed. Trading was initiated
        in ten stocks.

   --  On September 14, 2006, ISE's Board of Directors declared a
        quarterly dividend of $0.05 per outstanding share of its Class
        A Common Stock, payable on September 29, 2006 to holders of
        record as of the close of business on September 22, 2006.

   --  On September 20, 2006, ISE announced its intent to create and
        list new foreign currency options, called ISE FX Options(TM),
        which will provide retail and institutional investors with a
        new investment strategy that will enable them to express their
        views on the strength or weakness of the U.S. Dollar relative
        to other currencies. ISE will initially list the following
        four currency pairs: USD/EUR, USD/GBP, USD/JPY, and USD/CAD.
        Trading in ISE FX Options is expected to begin in the first
        quarter of 2007, pending regulatory approvals.

   --  On September 22, 2006, ISE stock listed an additional 280
        stocks on its MidPoint Match platform.

   --  On September 27, 2006, ISE announced the official launch of
        its Historical Options Tick Data(TM) offering (ISE HOT
        Data(TM)), the first in its suite of new market data products.

   --  On September 29, 2006, ISE added 330 stocks to its MidPoint
        Match(TM) platform, bringing the total number of equities
        traded to 640 representing more than 75% of the total market
        capitalization of U.S. traded securities. Included among the
        names traded are companies in the S&P 500, select ETFs,
        several lower-priced stocks, and ISE.

   --  ISE traded more volume than any other options exchange in 672
        of 941 issues in its listings.

   ISE Background

   The International Securities Exchange, LLC (ISE) is a wholly-owned
subsidiary of International Securities Exchange Holdings, Inc. (ISE
Holdings). ISE operates 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 launched in September 2006 with
strategic partners and offers an innovative MidPoint Match platform,
which will be followed by a fully integrated displayed Best Bid Offer
market in the fourth quarter. ISE Holdings is also a majority owner of
Longitude LLC, which operates an innovative platform for events
markets trading. Additionally, ISE 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, for more information about the
ISE Stock Exchange, visit www.isestock.com and for more information
about Longitude, visit www.longitude.com.

   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.