The International Securities Exchange (NYSE:ISE) today reported that average daily trading volume for equity and index options contracts for January 2007 increased 3.6% to 2.8 million contracts as compared to 2.7 million contracts during the same period in 2006. Total equity and index options volume for the month increased 3.6% to 55.8 million contracts from 53.8 million contracts in the same year-ago period.
Equity and Index Options Volume Statistics
| Current Month | |||
| (000s) | Jan-07 | Jan-06 | % Change |
| ISE Average Daily Volume | 2,787.9 | 2,692.1 | 3.6% |
| ISE Total Volume | 55,758.9 | 53,842.6 | 3.6% |
| Industry Average Daily Volume | 9,878.4 | 8,909.0 | 10.9% |
| Market Share | 28.2% | 30.2% | (2.0) pts |
| Market Share: Customer | 29.8% | 32.2% | (2.4) pts |
| Market Share: Firm | 23.7% | 23.9% | (0.2 )pts |
| Market Share: Market Maker | 28.5% | 30.1% | (1.6) pts |
Equity Options Volume Statistics
| Current Month | |||
| (000s) | Jan-07 | Jan-06 | % Change |
| ISE Average Daily Volume | 2,749.7 | 2,659.6 | 3.4% |
| ISE Total Volume | 54,994.2 | 53,191.7 |
3.4% |
| Industry Average Daily Volume | 9,100.7 | 8,239.6 | 10.5% |
| Market Share | 30.2% | 32.3% | (2.1) pts |
| Market Share: Customer | 31.9% | 34.1% | (2.2) pts |
| Market Share: Firm | 25.4% | 26.3% | (0.9) pts |
| Market Share: Market Maker | 30.5% | 32.2% | (1.7) pts |
Index Options Volume Statistics
| Current Month | |||
| (000s) | Jan-07 | Jan-06 | % Change |
| ISE Average Daily Volume | 38.2 | 32.5 | 17.5% |
| ISE Total Volume | 764.7 | 650.9 | 17.5% |
| Industry Average Daily Volume | 777.7 | 669.5 | 16.2% |
| Market Share | 4.9% | 4.9% | 0 pts |
Dividend Trade Activity
Our market share statistics continue to be negatively impacted by trading activity related to dividend trades among certain options market makers. These trades temporarily inflate and distort trading volume and market share when transacted. If the volume from the largest dividend trades were excluded from the data, our market share of equity options for the month of January would increase to 32.2% from 30.2%, an increase of 2.0 market share points.
Monthly Highlights
- ISE was the largest U.S. equity options exchange in January.
- On January 9, 2007 ISE's Board of Directors declared a quarterly dividend of $0.05 per outstanding share of its Class A Common Stock payable on March 30, 2007 to holders of record as of the close of business on March 23, 2007.
- On January 24, 2007, the ISE Stock Exchange added all of the securities that comprise the S&P 1500 to its fully-displayed stock market. Additionally, the ISE Stock Exchange now offers full route-out capabilities to prevent trade-throughs.
- ISE traded more volume than any other options exchange in 878 of 1,661 issues in its listings.
