International Securities Exchange Reports Monthly Volume For January 2010

The International Securities Exchange (ISE) today reported average daily volume of 3.7 million contracts in January 2010.

Average daily trading volume for all options contracts increased 2.4% to 3.7 million contracts in January 2010 compared to the same period in 2009. Total options volume for the month decreased 2.7% to 71.2 million contracts from 73.2 million contracts in the same year-ago period.

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

	Current Month
(000s)	Jan-10	Jan-09	% Change
ISE Average Daily Volume	3,749.2	3,661.4	2.4%
ISE Total Volume	71,235.2	73,228.2	-2.7%
Industry Average Daily Volume	16,398.0	12,890.7	27.2%
Market Share	22.9%	28.4%	(5.5) pts
Market Share: Customer	24.3%	29.6%	(5.3) pts
Market Share: Firm	19.8%	26.5%	(6.7) pts
Market Share: Market Maker	22.5%	28.0%	(5.5) pts

Equity and ETF Options Volume Statistics

	Current Month
(000s)	Jan-10	Jan-09	% Change
ISE Average Daily Volume	3,708.1	3,613.3	2.6%
ISE Total Volume	70,453.8	72,265.1	-2.5%
Industry Average Daily Volume	15,207.3	11,974.5	27.0%
Market Share	24.4%	30.2%	(5.8) pts
Market Share: Customer	25.6%	31.4%	(5.8) pts
Market Share: Firm	21.8%	28.7%	(6.9) pts
Market Share: Market Maker	24.0%	29.7%	(5.7) pts

Index Options Volume Statistics

	Current Month
(000s)	Jan-10	Jan-09	% Change
ISE Average Daily Volume	40.6	45.8	-11.4%
ISE Total Volume	772.3	916.2	-15.7%
Industry Average Daily Volume	1,190.2	913.8	30.2%
Market Share	3.4%	5.0%	(1.6) pts

ISE FX Options® Volume Statistics

	Current Month
(000s)	Jan-10	Jan-09	% Change
ISE Average Daily Volume	0.5	2.3	-78.3%
ISE Total Volume	9.0	46.9	-80.8%

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 January 2010, our market share in equity options would increase to 25.6% from 24.4%, an increase of 1.2 market share points. If volume from dividend trades were excluded from ISE's data in January 2009, our market share in equity options would increase to 30.4% from 30.1%. Exclusion of dividend trades from total industry volume data presents a more relevant measure of the relative trends in our business.

Monthly Highlights

On January 19, 2010, ISE expanded its ISE FX Options® portfolio with the launch of currency options on the Brazilian real (Symbol: BRB). Timber Hill is the Primary Market Maker for this new product.
On January 25, 2010, ISE announced the launch of www.fxoptions.com, the first online trader community exclusively dedicated to FX options.
ISE traded more volume than any other options exchange in 1,152 of 2,187 issues in its listings.