David Krell, president and CEO said, “We are excited to expand our product offerings beyond the equity options listed thus far during our roll-out. ISE’s electronic platform and market structure provide a perfect match for trading in this popular product and will ensure that customers’ strategies are carried out rapidly and accurately.”
The Primary Market Maker (PMM) in this new product will be Hull Trading Company, L.L.C. Hull has operated as a PMM since July 2000 and currently serves as the principal liquidity provider in 26 issues. The firm also operates 8 Competitive Market Maker (CMM) memberships.
Judson Ellis, managing director of Hull, added, “We welcome the opportunity to provide PMM support to this product and look forward to this important step in ISE’s expansion of its product line.”
On May 26, 2000 the ISE listed three issues as a first step in its rollout to trade the top 600 equity options on the world’s only exchange to combine electronic trading with auction market principles. The ISE has listed 223 issues and is continuing to increase the roster in its rollout toward the full contingent of 600 listings. The updated list of issues traded is available on ISE’s web site (www.iseoptions.com) within the section entitled “Product Information.”
