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The International Securities Exchange (ISE) announced today 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.
"We submitted this important proposal because we believe that there is strong demand in the industry for options exchanges to list additional expiration months for the most actively traded, liquid options classes," said Boris Ilyevsky, Managing Director of ISE's options exchange. "Our proposal to list additional near-term expiration months for 20 of our most actively traded products will provide our members and their customers with more flexibility and choice by providing a more uniform set of expirations than what exists today."
Today, options exchanges list only four expiration months for each options class. With the ability to list a total of six expiration months for its most actively traded options classes, ISE will be able to list four consecutive expiration months as well as two additional months for the options classes it selects.
ISE's proposed rule filing is available on its website at www.ise.com/regulatory. For more information on the proposed pilot program, contact ISE Business Development at bizdev@ise.com.
