The International Securities Exchange (ISE) announced today that it will expand its modified maker/taker pricing program on September 1 to cover 100 symbols listed on the exchange. With this expansion, symbols comprising over 60% of total ISE volume will be part of its modified maker/taker pricing structure. Introduced in April, highlights of ISE's modified maker/taker pricing program include rebates for market makers who meet market quality thresholds, competitive taker fees for non-customer orders and no taker fees for retail-sized customer orders. ISE's patented customer priority, pro-rata market structure remains in place across all names.
"We have received tremendous support from our member firms for the combination of our pro-rata, customer priority market structure with modified maker/taker pricing," said Boris Ilyevsky, Managing Director of ISE's options exchange. "The new fee structure has improved ISE's market quality by increasing the amount of time ISE is on the National Best Bid and Offer (NBBO). We will continue to monitor the program and will expand where appropriate if further market quality improvements can be achieved."
ISE's official Schedule of Fees, all fee notices and the new ISE fee summary are available at www.ise.com/feenotices. For more information, please contact ISE's Business Development team at bizdev@ise.com.
