The International Securities Exchange (NYSE: ISE) today announced that as of Friday, September 29, it will trade all of the companies that comprise the S&P 500 on its recently launched MidPoint Match(TM) platform. The ISE Stock Exchange added 280 new names to MidPoint Match last week and will continue its rollout by listing an additional 330 stocks this week. In addition to the companies in the S&P 500, select ETFs, several lower-priced stocks, and ISE will also be traded.
"Listing the stocks of the S&P 500 represents a major milestone in our ongoing rollout of MidPoint Match," stated Andrew Brenner, head of the ISE Stock Exchange. Brenner continued, "The companies that comprise the S&P 500 account for approximately 76% of the market capitalization of the U.S. equity market, and we are excited to provide investors with the ability to trade these names on the ISE Stock Exchange and receive the continuous price improvement that our Exchange offers."
MidPoint Match, the first product to debut on the ISE Stock Exchange, is a continuous, instantaneous, fully-automated and anonymous platform that executes orders at the midpoint price of the National Best Bid and Offer (NBBO) throughout the trading day. Trading on MidPoint Match began in early September. The rollout process will continue over the coming months, leading up to the launch of an integrated displayed market offering in the fourth quarter, subject to regulatory approval.
Additional information is available at www.isestock.com.
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.
