The International Securities Exchange (ISE) today reported average daily volume of 2.4 million contracts in August 2010.
Average daily trading volume for all options contracts decreased 36.9% to 2.4 million contracts in August as compared to 3.7 million contracts during the same period in 2009. Total options volume for the month decreased 33.9% to 51.8 million contracts from 78.4 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options decreased 24.3% to 3.1 million contracts traded. Total year-to-date options volume through August 2010 decreased 24.3% to 510.3 million contracts from 673.8 million contracts in the same period last year.
Total Options Volume (Equity, ETF, Index and
FX Options)
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Equity and ETF Options Volume Statistics
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Index Options Volume Statistics
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ISE FX Options® Volume Statistics
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ISE's market share statistics continue to be negatively impacted by dividend trade strategies that are permitted based on a non-economic rationale. These trades temporarily inflate and distort trading volume and market share when transacted.
If the volume from dividend trades were excluded from ISE's data for August 2010, our market share in equity options would increase to 21.0% from 19.4%, an increase of 1.6 market share points. 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.
Monthly Highlights
- On August 9, 2010, ISE announced that it has started publishing a summary
of its transaction fees in Excel format as a complement to the official fee
schedule it files with the SEC. The electronic, user-friendly version of the
fee schedule provides ISE members with a summary of ISE transaction fees
which they can easily incorporate into their proprietary systems. The new
fee summary is available at www.ise.com/feesummary.
- On August 11, 2010, ISE announced that it has submitted a proposal to the
SEC to adopt a pilot program to expand the number of expiration months
available for the most actively traded options classes on its exchange. The
program, which is pending SEC approval, will allow ISE to list up to two
additional, consecutive expiration months for 20 options classes.
- On August 16, 2010, ISE announced that it has submitted a comment letter
to the Securities and Exchange Commission (SEC) recommending that the SEC
examine certain anticompetitive and discriminatory fee practices at three
options exchanges.
- On August 23, 2010, ISE announced today the launch of a new Step Up and
Match feature for Facilitation and Price Improvement Mechanism (PIM) orders.
These orders are exposed to all ISE market participants who may respond to
participate with the order during a one second auction. The Step Up and
Match functionality now allows firms originating the order to step up and
match the best price achieved during the auction or up to a specific limit
price, allowing greater flexibility for participation.
- On August 25, 2010, 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.
- ISE traded more volume than any other options exchange in 648 of 2,306 issues in its listings.
