The International Securities Exchange (ISE) and Eurex today announced they will jointly de-velop a new Options Trading System for ISE. This step marks the first joint initiative following the merger of the two companies, which was completed on December 19, 2007.
Gary Katz, ISE's President and CEO, said, "Technology is an important differentiator in to-day's competitive market environment. This internally developed solution will increase the flexibility of our platform and decrease the time-to-market for enhancements, delivering an improved trading experience to our members. Both ISE and Eurex have been at the forefront of technology development in the industry, and this new initiative will solidify our position as an innovative technology leader."
Andreas Preuss, CEO of Eurex, added, "The combined resources of our respective
technology teams will deliver a new industry-leading Options Trading System
for ISE. This step is part of the communicated synergies from the merger which
added ISE to Eurex's global network. We will continue to leverage our combined
distribution networks, know-how and innovation to realize revenue synergies
and operational efficiencies as well as addressing the specific needs of our
respective marketplaces."
The development of the new system will be a multi-year effort that will draw
upon the signifi-cant expertise of both ISE and the entire Deutsche Börse
Group's technology teams. While the new system is under development, ISE's options
exchange will continue to operate on the OMX CLICK technology platform, and
ISE will continue to work with OMX to support as well as enhance the current
system. Eurex and ISE are currently finalizing plans for the joint devel-opment
effort and expect the new platform to launch in early 2011.
