International Securities Exchange

International Securities Exchange Holdings, Inc.

Type| Subsidiary
Industry| Exchange
Founded| May 26, 2000; 26 years ago (2000-05-26)
Headquarters|

New York City, New York

United States

Key people

| Gary Katz (CEO)
Products|

* Options
* Stock
* Market Data

Parent| Nasdaq, Inc.
Website| www.ise.com

International Securities Exchange Holdings, Inc. (ISE) is a wholly owned subsidiary of American multinational financial services corporation Nasdaq, Incorporated. It is a member of the Options Clearing Corporation (OCC) and the Options Industry Council (OIC).

Founded in 2000, the ISE was conceived in 1997 when then-chairman of E-Trade, William A. Porter, and his colleague, Marty Averbuch, approached David Krell and Gary Katz about their concept, and the four founded what is today the International Securities Exchange, a leading U.S. equity options exchange.

Launched as the first fully electronic US options exchange, ISE developed a unique market structure for advanced screen-based trading.

ISE offers equity and index options, including proprietary index products, as well as FX options based on foreign currency pairs. ISE also offers market data tools designed for sophisticated investors seeking information on investor sentiment, volatility, and other options data.

In August 2008, the ISE Stock Exchange announced a partnership with the electronic communication network Direct Edge. The deal made the ISE Stock Exchange a wholly owned subsidiary of Direct Edge and gave ISE an ownership stake in Direct Edge.[1]

In 2013, ISE strengthened its focus on ETF and index development with the introduction of ISE ETF Ventures.[2]

## Contents

* 1 ISE Options Exchange
* 2 Timeline
* 3 See also
* 4 References
* 5 External links

## ISE Options Exchange

The International Securities Exchange (ISE) operates three U.S. options exchanges: ISE, ISE Gemini, and ISE Mercury.[3]

## Timeline

2000 |

* February 24, 2000: Registered as a national securities exchange with the Securities and Exchange Commission
* May 26, 2000: Launched its Options Exchange - the first transaction was a purchase of 20 SBC Communications October 45 calls.

|

2001 |

* May 29, 2001: Traded its 25 millionth contract.
* November 1, 2001: Became the 3rd largest U.S. equity options exchange when average daily volume for October 2001 reached 380,299 contracts,[4]

2002 |

* May 22, 2002: Met its goal of listing equity options representing 90% of average daily trading volume in the US options industry.[5]
* October 29, 2002: Traded its 200 millionth contract.

2003 |

* February 20, 2003: Traded its 250 millionth contract.
* March 1, 2003: Became the largest US equity options exchange after average daily volume for February 2003 reached 710,218 contracts.[6]

2004 |

* January 2004: Was named Derivatives Exchange of the Year by Risk Magazine for the second time in three years.[7]

2005 |

* March 9, 2005: Became the first securities exchange to sell its shares in an initial public offering.
* May 24, 2005: Traded its 1 billionth contract.
* December 8, 2005: Completed its secondary public offering.

2006 |

* January 20, 2006: Traded a record daily trading volume of 4,580,678 equity and index options contracts.
* March 24, 2006: Launches its alternative markets trading platform.
* May 16, 2006: Traded its 1.5 billionth contract.
* September 1, 2006: Adopted a holding company structure.
* September 8, 2006: Launched the ISE Stock Exchange, with its first product, MidPoint Match.
* December 8, 2006: ISE Stock Exchange rolled out its fully displayed stock market, the first fully electronic exchange to provide integrated access to non-displayed and displayed liquidity pools.

2007 |

* February 27, 2007: Set a new record daily trading volume of 5,531,875 equity and index options. contracts.
* March 9, 2007: Traded its 2 billionth options contract.
* April 17, 2007: Launched ISE FX Options.
* December 20, 2007: Eurex completes acquisition of ISE. ISE will continue to be regulated by the SEC as a registered national securities exchange and will operate under the existing management team as an independent subsidiary of Eurex.[8]

2008 |

* September 18, 2008: Trades a new record daily trading volume of 7,903,304 options contracts.[9]
* October 28, 2008: Enters into an agreement with the New York Stock Exchange to license the right to list ISE FX Options products on the NYSE Arca Options platform.
* December 23, 2008: Completes deal with Direct Edge. ISE Stock Exchange becomes a wholly owned subsidiary of the Direct Edge with ISE gaining a 31.54% ownership stake.[10]

2011 |
2016 |

* March 9, 2016: American exchange operator Nasdaq announced it will buy International Securities Exchange (ISE.N) for $1.1 billion.[11]
* June 30, 2016: Nasdaq completes acquisition of ISE.[11]

## See also

* List of stock exchanges
* List of stock exchanges in the Americas

## References

1. ↑ Cameron, Doug; Dauer, Ulrike (2008-08-23). "ISE Joins Direct Edge to Gain U.S. Share - WSJ" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/SB121944684198065119.
2. ↑ "ISE Strengthens Focus On ETF And Index Development With Introduction Of ISE ETF Ventures". 30 January 2013. https://mondovisione.com/media-and-resources/news/ise-strengthens-focus-on-etf-and-index-development-with-introduction-of-ise-etf-2013130/.
3. ↑ "About ISE | International Securities Exchange, LLC". 2015-09-08. http://www.ise.com/about-ise/.
4. ↑ International Securities Exchange Now the Third Largest U.S. Options Exchange; Solid Growth Trend Strengthens November 1, 2001, Business Wire
5. ↑ ISE Meets Listings Target on Second Anniversary May 23, 2002, Securities Industry News
6. ↑ Options Mart Is No.1 Despite Trade Through May 2004, Traders Magazine
7. ↑ The Risk Awards 2004 by January 2004/Volume17/No1
8. ↑ "Eurex and ISE complete merger". 2007-06-27. http://www.foxbusiness.com/markets/industries/finance/article/eurex-ise-complete-merger_414874_9.html.
9. ↑ ISE January 2, 2009
10. ↑ Press Release December 23, 2008
11. ↑ 11.0 11.1 "Completion of divestiture of International Securities Exchange Holdings" (in en). 2016-06-30. http://deutsche-boerse.com:80/dbg-en/media-relations/press-releases/Completion-of-divestiture-of-International-Securities-Exchange-Holdings/2636214.

## External links

* [1]

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World Federation of Exchanges

Members|

* Abu Dhabi Securities Exchange
* Amman Stock Exchange
* Athens Stock Exchange
* Australian Securities Exchange
* Bahrain Bourse
* BATS Global Markets
* Bermuda Stock Exchange
* BM&F Bovespa
* BME Spanish Exchanges
* Bolsa de Comercio de Buenos Aires
* Bolsa de Comercio de Santiago
* Bolsa de Valores de Colombia
* Bolsa de Valores de Lima
* Bolsa Mexicana de Valores
* Borsa Istanbul
* Bourse de Casablanca
* BSE India Limited
* Bulgarian Stock Exchange – Sofia
* Bursa Malaysia
* CBOE Holdings
* China Financial Futures Exchange
* CME Group
* Colombo Stock Exchange
* Cyprus Stock Exchange
* Dalian Commodity Exchange
* Deutsche Börse
* Dubai Financial Market
* Egyptian Exchange
* Euronext
* Ho Chi Minh City Stock Exchange
* Hong Kong Exchanges and Clearing
* Indonesia Stock Exchange
* Intercontinental Exchange
* International Securities Exchange
* Japan Exchange Group
* JSE Limited
* Kazakhstan Stock Exchange
* Korea Exchange
* Luxembourg Stock Exchange
* Malta Stock Exchange
* Moscow Exchange
* Muscat Securities Market
* NASDAQ OMX
* National Stock Exchange of India
* Nigerian Stock Exchange
* NZX Limited
* Oslo Børs
* Philippine Stock Exchange
* Qatar Exchange
* Saudi Stock Exchange (Tadawul)
* Shanghai Futures Exchange
* Shanghai Stock Exchange
* Shenzhen Stock Exchange
* Singapore Exchange
* SIX Swiss Exchange
* Stock Exchange of Mauritius
* Stock Exchange of Thailand
* Taipei Exchange
* Taiwan Futures Exchange
* Taiwan Stock Exchange
* Tel Aviv Stock Exchange
* TMX Group
* Zhengzhou Commodity Exchange

Associates|

* Depository Trust & Clearing Corporation
* Options Clearing Corporation

Affiliates|

* Beirut Stock Exchange
* Bourse de Tunis
* BRVM
* Bucharest Stock Exchange
* Cayman Islands Stock Exchange
* Chittagong Stock Exchange
* Dhaka Stock Exchange
* Dubai Gold & Commodities Exchange
* Hanoi Stock Exchange
* Indonesia Commodity and Derivatives Exchange
* Multi Commodity Exchange
* Nairobi Securities Exchange
* Namibian Stock Exchange
* Nepal Stock Exchange
* Palestine Exchange
* Port Moresby Stock Exchange
* The International Stock Exchange
* Ukrainian Exchange

Correspondents|

* Barbados Stock Exchange
* Belarusian Currency and Stock Exchange
* Bolsa de Comercio de Rosario
* Boursa Kuwait
* Canadian Securities Exchange
* Dutch Caribbean Securities Exchange
* Ghana Stock Exchange
* Jamaica Stock Exchange
* PFTS Stock Exchange
* Sydney Stock Exchange
* Seychelles Securities Exchange (Trop-X)

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