ISE Eliminates Fees for Premium Options Products

by International Securities Exchange 27 Apr 16:33

Members will pay zero transaction fees for customer orders in all multiply-listed ETF and index options

NEW YORK, April 27, 2009 – The International Securities Exchange (ISE) today announced that it has eliminated customer transaction fees for Premium Products, which include multiply-listed exchange-traded fund (ETF) and index options.* The popular Powershares QQQ Trust Series 1 (Ticker: QQQQ) will continue to be offered at no charge for customer orders. The new fee schedule will take effect on May 1, 2009.

Boris Ilyevsky, Managing Director of ISE’s options exchange, stated, “ISE is committed to offering the most competitive options trading venue for retail and institutional customers. By eliminating customer transaction fees for these products, we are simplifying our fee structure so that members can be confident they will pay no transaction fees for customer orders in equity options and multiply-listed ETF and index options routed to ISE. This new pricing structure, in conjunction with our customer priority market model, provides the best and lowest cost execution for customer orders sent to ISE.”

At this past weekend’s annual strategic planning meeting with ISE senior management, the ISE Board of Directors approved this fee change to address the evolving marketplace requirements of its order flow providers. ISE’s fees for firm and market maker trades are unaffected by this change. This fee change is subject to filing with the SEC. For ISE’s complete fee schedule, please visit www.ise.com/fees.

*Excludes FX options products and proprietary index options.

ISE Background
The International Securities Exchange (ISE) operates the world’s largest equity 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 that foster technology innovation and market efficiency. Through its two minority investments, ISE participates in the securities lending and equities markets.

ISE is a wholly owned subsidiary of Eurex, a leading global derivatives exchange. Eurex itself is jointly owned by Deutsche Börse AG (Ticker: DB1) and SIX Swiss Exchange AG. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives. For more information, visit www.ise.com.

CONTACT:

Media:
Molly H. McGregor
International Securities Exchange
212-897-0275
mmcgregor@ise.com