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In response to a press statement issued today by Deutsche Boerse AG, the International Securities Exchange Holdings, Inc. (NYSE: ISE) confirmed that it is in advanced discussions that could lead to a possible business combination with Eurex. The transaction is still subject to the negotiation of final terms and documentation as well as approval by ISE's Board of Directors.
Even if a definitive agreement is reached, consummation of a transaction would be subject to a number of conditions, including ISE shareholder approval, SEC regulatory approval under Section 19(b) of the Securities Exchange Act of 1934 and clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
ISE will have no further comment until these discussions have concluded.
ISE Background
International Securities Exchange Holdings, Inc. (NYSE: ISE), through its subsidiaries, operates a family of innovative securities markets. ISE is founded on the principle that technology and competition create better, more efficient markets for investors and consists of an options exchange, a stock exchange and an alternative markets platform. ISE continually enhances its trading systems and develops new products to provide investors with the best marketplace and investment tools to trade smarter.
ISE developed a unique market structure for advanced screen-based trading systems and in May 2000 launched the first fully electronic US options exchange. Currently, ISE operates the largest U.S. equity options exchange and is among the leading options exchanges in the world. ISE offers index options, including a portfolio of proprietary index products, and enhanced market data products for sophisticated investors. ISE FX Options(TM) launched in the second quarter of 2007.
ISE Stock Exchange, launched in September 2006 with strategic partners, includes an innovative MidPoint Match(TM) platform which offers investors continuous price improvement. MidPoint Match was integrated with a fully displayed Best Bid Offer market in the fourth quarter of 2006.
ISE's alternative markets business currently consists of an events market trading platform known as Longitude. Longitude's patented and proprietary technology provides a unique parimutuel structure for derivatives auctions which results in greater trading and pricing flexibility for market participants.
For more information about ISE and its options exchange, visit www.iseoptions.com and for more information about ISE Stock Exchange, visit www.isestock.com. Additionally, to learn more about ISE alternative markets technology, visit www.longitude.com.
