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The International Securities Exchange (NYSE: ISE) today announced that MidPoint Match(TM) trading will begin this Friday, September 8, 2006. MidPoint Match will be the first product to debut on the ISE Stock Exchange. On September 1, the SEC approved the formation of the ISE Stock Exchange, clearing the way for this week's launch. Trading hours for MidPoint Match will be from 9:30 am to 4:00 pm EST.
David Krell, ISE's President and Chief Executive Officer, said "We are excited to announce the imminent launch of trading on ISE Stock Exchange's MidPoint Match. Over the past several months, we have worked vigorously to connect our members to the ISE Stock Exchange platform and have conducted extensive testing of the platform's speed and reliability to ensure preparedness for the launch. With SEC approval of the formation of the ISE Stock Exchange, we have completed the final step necessary in our rollout process and look forward to launching MidPoint Match this Friday."
MidPoint Match is a continuous, instantaneous, fully-automated and anonymous platform that executes orders at the midpoint price of the National Best Bid and Offer (NBBO) throughout the trading day. Initial trading will be in the following ten stocks with additional names to be added regularly: Cisco Systems Inc. (CSCO); Ford Motor Co. (F); JDS Uniphase Corp. (JDSU); LSI Logic Corp (LSI); Lucent Technologies Inc (LU); NASDAQ-100 Trust (QQQQ); Quest Communications International Inc. (Q); RF Micro Devices Inc. (RFMD); Sun Microsystems Inc. (SUNW); and Semiconductor HOLDRs Trust (SMH).
ISE Background
The International Securities Exchange, LLC (ISE) is an innovative securities market, founded on the principle that technology and competition create better, more efficient markets for investors. ISE is the largest equity options exchange and is among the leading options exchanges in the world. ISE developed a unique market structure for advanced screen-based trading systems and in May 2000 launched the first fully electronic US options exchange. The ISE Stock Exchange LLC will launch in September 2006 with strategic partners, offering an innovative MidPoint Match platform, followed by a fully integrated displayed Best Bid Offer (BBO) market in the fourth quarter. ISE is also a majority owner of Longitude LLC, an innovative platform for events markets trading, and offers enhanced market data products for sophisticated investors.
ISE continually enhances its trading systems and develops new products, including index options and market data, to provide investors with the best marketplace and investment tools to trade smarter. For more information about ISE, its options products and its technology, visit www.iseoptions.com and for more information about the ISE Stock Exchange LLC, visit www.isestock.com.
International Securities Exchange, LLC is a wholly-owned subsidiary of International Securities Exchange Holdings, Inc.
