ISE FX Options Begin Trading In Penny Increments

The International Securities Exchange (ISE) announced that ISE FX Options will begin quoting and trading in penny increments today, providing investors with additional trading opportunities and refined pricing in these products. Launched on April 17, 2007, ISE currently trades FX options in four currency pairs: U.S. Dollar/Euro (Symbol: EUI), U.S. Dollar/British Pound (Symbol: BPX), U.S. Dollar/Japanese Yen (Symbol: YUK) and U.S. Dollar/Canadian Dollar (Symbol: CDD). Open interest in ISE FX Options reached 292,780 contracts on December 31, 2007 and average daily trading volume was 6,482 contracts for the month.

Kris Monaco, ISE’s Director of New Product Development, said, “We are excited to now offer penny increment trading in our ISE FX Options products. Penny increment trading meets the demands of a wider retail customer base, providing additional trading flexibility.”

ISE FX Options provide investors with exposure to rate movements in the global foreign currency market. ISE FX Options, which are accessible through all options-enabled brokerage accounts, are cash-settled in U.S. Dollars have European style exercise.