- ISE and ISE Gemini™ combined represent 16.2% of equity options market share, excluding dividend trades.
- ISE reported a combined ADV of 2.1 million contracts.
- Dividend trades made up 1.7% of industry volume in August 2013.
The International Securities Exchange (ISE) today reported a combined average daily volume (ADV) of 2.1 million contracts in August 2013 for its two exchanges, ISE and ISE Gemini. This represents16.2% of U.S. equity options market share.
Business highlights for the month of August include:
- On August 5, ISE Gemini launched as the twelfth U.S. options exchange.
- On August 27, ISE Gemini became the fastest new exchange to surpass two percent market share in equity options and also announced a successful accelerated product rollout.
- On August 28, ISE was the first U.S. options exchange to sign a Memorandum of Understanding to facilitate information sharing with Moscow Exchange.
- For the month of August, Implied Order functionality accounted for 7.2% of all non-crossing, multi-legged contract volume executed on ISE.
Detailed volume statistics are found in the tables below:
ISE Total Options Volume (Equity, ETF, Index and FX Options - 000s)
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ISE Gemini Options Volume (Equity, ETF, and Index - Total)
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ISE Equity and ETF Options Volume Statistics (000s)
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ISE Gemini Equity and ETF Options Volume Statistics (Total)
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*ISE does not include dividend trade volume in market share statistics. ISE's market share statistics continue to be negatively impacted by dividend trade strategies that are permitted based on a non-economic rationale, and inflate and distort trading volume and market share when transacted. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in our business. For ISE's whitepaper on dividend trades and their impact on the options industry, please visit www.ise.com/dividendtrades.
Dividend Trade Impact on Industry Market Share**
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**This calculation is based on in-the-money call options with a premium of $0.50 or more, and with trades greater than 1,000 contracts. Only trades with the closest expiration are considered. Exchanges without fee caps are excluded. This dividend trade volume information is presented for informational purposes only. It is provided on an "as is" basis, without warranty of any kind. ISE does not guarantee its accuracy or completeness, and ISE accepts no responsibility for any errors or omissions in, or the consequence of relying or acting upon, this information.