ISE Reports It Is The Largest Equity Options Exchange In April 2013

ISE was the largest equity options exchange in April with a market share of 17.8%, excluding dividend trades.
Dividend trades made up 2.1% of industry volume in April 2013.

The International Securities Exchange (ISE) today reported an average daily volume of 2.7 million contracts in April 2013. This represents an increase of 4.5% compared to April 2012. Total options volume for the month was 59.8 million contracts. ISE was the largest U.S. equity options exchange in April with a market share of 17.8%*.

Business highlights for the month of April include:

On April 24, ISE introduced its new corporate branding. The new visual identity spans a redesigned corporate website and expanded social media presence.
On April 23, ISE announced that it received the award for "Most Proactive Exchange for ETF Options/Derivatives" at the 9th Annual Global ETF Awards®.
On April 11, ISE introduced ISE Gemini^TM as the brand name of its second options exchange.
For the month of April, Implied Order functionality accounted for 6.7% of all non-crossing, multi-legged contract volume executed on ISE.

Detailed volume statistics are found in the tables below:

Total Options Volume (Equity, ETF, Index and FX Options)

	Current Month			Year-to-Date
(000s)	Apr-13	Apr-12	% Change	Apr-13	Apr-12	% Change
ISE Average Daily Volume	2,717.9	2,600.6	4.5%	2,644.9	2,662.3	-0.7%
ISE Total Volume	59,793.2	52,011.4	15.0%	216,881.7	218,305.4	-0.7%

Equity and ETF Options Volume Statistics

	Current Month			Year-to-Date
(000s)	Apr-13	Apr-12	% Change	Apr-13	Apr-12	% Change
ISE Average Daily Volume	2,673.1	2,584.5	3.4%	2,605.8	2,642.1	-1.4%
ISE Total Volume	58,809.2	51,689.8	13.8%	213,677.7	216,651.5	-1.4%
Market Share*	17.8%	18.3%	(0.5) pts	17.9%	18.3%	(0.4) pts

Index Options Volume Statistics

	Current Month			Year-to-Date
(000s)	Apr-13	Apr-12	% Change	Apr-13	Apr-12	% Change
ISE Average Daily Volume	44.4	16.0	177.3%	38.8	20.0	94.2%
ISE Total Volume	975.8	319.8	205.1%	3,181.4	1,638.5	94.2%

ISE FX Options® Volume Statistics

	Current Month			Year-to-Date
(000s)	Apr-13	Apr-12	% Change	Apr-13	Apr-12	% Change
ISE Average Daily Volume	0.4	0.1	300.0%	0.3	0.2	50.0%
ISE Total Volume	8.2	1.7	382.4%	22.6	15.4	46.8%

*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 visitwww.ise.com/dividendtrades.

Dividend Trade Impact on Industry Market Share**

April 2013 (000s)	Equity Options Volume Excluding Dividend Trades	Dividend Trade Volume	Total Reported Equity Options Volume	True Market Share	Market Share With Dividend Trades	Market Share Difference	Dividend Trades as % of Equity Options Volume
ISE	58,809.2	0.0	58,809.2	17.8%	17.4%	0.4 pts	0.0%
CBOE	58,367.4	0.0	58,367.4	17.7%	17.3%	0.4 pts	0.0%
PHLX	52,329.3	6,975.8	59,305.1	15.8%	17.6%	(1.8) pts	11.8%
AMEX	50,583.3	0.0	50,583.3	15.3%	15.0%	0.3 pts	0.0%
ARCA	43,964.9	0.0	43,964.9	13.3%	13.0%	0.3 pts	0.0%
NSDQ	30,071.9	0.0	30,071.9	9.1%	8.9%	0.2 pts	0.0%
BATS	14,718.3	0.0	14,718.3	4.5%	4.4%	0.1 pts	0.0%
C2	8,787.4	0.0	8,787.4	2.7%	2.6%	0.1 pts	0.0%
BOX	8,144.7	0.0	8,144.7	2.5%	2.4%	0.1 pts	0.0%
BXOptions	3,693.1	0.0	3,693.1	1.1%	1.1%	0.0 pts	0.0%
MIAX	1,309.0	0.0	1,309.0	0.4%	0.4%	0.0 pts	0.0%

**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.