The International Securities Exchange (ISE) today reported that in September 2008, its options exchange traded an average daily volume of 4.8 million contracts. The ISE Stock Exchange traded a record average daily volume of 117.2 million shares in the same period.
Average daily trading volume for all options contracts increased 60.0% to 4.8 million contracts in September as compared to 3.0 million contracts during the same period in 2007. Total options volume for the month increased 76.8% to 101.5 million contracts from 57.4 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of all options increased 36.4% to 4.1 million contracts traded as compared to 3.0 million contracts traded in the prior year. Total year-to-date options volume through September 2008 increased 37.9% to 781.9 million contracts from 567.1 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 FX Options® Volume Statistics*
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*ISE FX Options began trading on April 17, 2007. Average daily volume for YTD 2007 is calculated based on the number of days the products traded.
ISE's market share statistics continue to be negatively impacted by trading strategies that are permitted based on a non-economic rationale. These strategies include dividend trades and synthetic short interest trades. These trades temporarily inflate and distort trading volume and market share when transacted.
Monthly Highlights
Options Exchange
- ISE was the largest U.S. equity options exchange in September.
- On September 2, 2008, ISE launched the ISE Spread Book Feed, a real-time data feed that provides access to all multi-legged options orders on ISE's options exchange. This subscription data feed includes order information for all complex options orders submitted to ISE, including spreads with up to four options series legs and stock/option combination orders such as buy-writes and delta neutral orders.
- On September 18, 2008, ISE's options exchange set a new record daily trading volume of 7,903,304 options contracts, an increase of 14.2% over the previous record of 6,920,132 contracts traded on November 8, 2007.
- ISE traded more volume than any other options exchange in 1,078 of 2,031 issues in its listings.
ISE Stock Exchange
- On September 15, 2008, the ISE Stock Exchange set a new daily trading volume record of 214.8 million shares, surpassing the previous record of 162.3 million shares set on January 23, 2008.
- A record average daily volume of 117.2 million shares traded on the ISE Stock Exchange in September 2008.
- The ISE Stock Exchange offers opportunities for price improvement through its non-displayed liquidity pool, MidPoint Match. Total price improvement in September 2008 was $7.9 million, and price improvement for all displayed market taker orders that interacted with MidPoint Match was over $0.01 per share.
