ISE Files for Second Exchange License
New options exchange to offer market structure and pricing flexibility
Exchange will run on ISE’s existing Optimise™ technology platform
Member firms will be able to use existing connectivity to ISE to access the second exchange
Anticipated launch by the end of 2012
NEW YORK, July 2, 2012 – The International Securities Exchange (ISE) announced that it has filed a Form 1 application for a second exchange license with the Securities and Exchange Commission. ISE plans to launch its second options exchange platform by the end of 2012, pending SEC approval.
“Having a second exchange license will enhance ISE’s flexibility to meet the evolving needs of our members in a highly competitive environment,” said Gary Katz, President and Chief Executive Officer of ISE. “Our Optimise technology platform was designed to support multiple markets and will enable our member firms to leverage their existing connectivity for our new exchange as well as to benefit from Optimise’s superior technology and functionality.”
In addition to Optimise’s extremely low latency profile, its industry-leading functionality for trading multi-legged strategy orders will be incorporated into the new exchange.
Details about the products to be traded, market structure, and fee schedule of the new exchange will be announced at a later date.
The International Securities Exchange (ISE) operates a leading U.S. options exchange and offers options trading on over 2,000 underlying equity, ETF, index, and FX products. As the first all-electronic options exchange in the U.S., ISE transformed the options industry by creating efficient markets through innovative market structure and technology. Regulated by the Securities and Exchange Commission (SEC) and a member-owner of The Options Clearing Corporation (OCC), ISE provides investors with a transparent marketplace for price and liquidity discovery on centrally cleared options products. ISE continues to expand its marketplace through the ongoing development of enhanced trading functionality, new products, and market data services. As a complement to its options business, ISE has expanded its reach into multiple asset classes through strategic investments in financial marketplaces and services that foster technology innovation and market efficiency. Through minority investments, ISE participates in the securities lending and equities markets. ISE also licenses its proprietary Longitude technology for trading in event-driven derivatives markets.
As a member of Eurex Group, ISE is combined with Eurex Exchange to form one of the largest transatlantic derivatives marketplaces, with daily trading volumes exceeding 10 million contracts in 2011 across a growing range of asset classes.
Eurex Group is comprised of Eurex Exchange, the International Securities Exchange, the European Energy Exchange, Eurex Clearing, Eurex Bonds and Eurex Repo.
Eurex Group is owned by Deutsche Börse AG (Xetra: DB1).
For more information, visit www.ise.com.
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