The International Securities Exchange (ISE) today reported that in January 2009, its options exchange traded an average daily volume of 3.7 million contracts.
Average daily trading volume for all options contracts decreased 24.3% to 3.7 million contracts in January as compared to 4.8 million contracts during the same period in 2008. Total options volume for the month decreased 27.9% to 73.2 million contracts from 101.6 million contracts in the same year-ago period. Average daily volume in January 2009 decreased 8.1% compared to average daily volume for the full year 2008.
Total Options Volume (Equity, ETF, Index and FX Options)
| |
January 2009 vs.
January 2008
|
January 2009 vs. FY
2008
|
|
(000s)
|
Jan-09
|
Jan-08
|
% Change
|
Jan-09
|
FY 2008
|
% Change
|
|
ISE Average Daily Volume
|
3,661.4
|
4,837.6
|
-24.3%
|
3,661.4
|
3,982.9
|
-8.1%
|
|
ISE Total Volume
|
73,228.2
|
101,589.0
|
-27.9%
|
73,228.2
|
1,007,661.6
|
N/M
|
|
Industry Average Daily Volume
|
12,890.7
|
17,007.8
|
-24.2%
|
12,890.7
|
14,160.4
|
-9.0%
|
|
Market Share
|
28.4%
|
28.4%
|
0.0 pts
|
28.4%
|
28.1%
|
0.3 pts
|
|
Market Share: Customer
|
29.6%
|
30.4%
|
(0.8) pts
|
29.6%
|
29.9%
|
(0.3) pts
|
|
Market Share: Firm
|
26.5%
|
28.9%
|
(2.4) pts
|
26.5%
|
30.4%
|
(3.9) pts
|
|
Market Share: Market Maker
|
28.0%
|
26.8%
|
1.2 pts
|
28.0%
|
26.1%
|
1.9 pts
|
|
Equity and ETF Options Volume Statistics
| |
January 2009 vs.
January 2008
|
January 2009 vs. FY
2008
|
|
(000s)
|
Jan-09
|
Jan-08
|
% Change
|
Jan-09
|
FY 2008
|
% Change
|
|
ISE Average Daily Volume
|
3,613.3
|
4,740.3
|
-23.8%
|
3,613.3
|
3,905.6
|
-7.5%
|
|
ISE Total Volume
|
72,265.1
|
99,546.1
|
-27.4%
|
72,265.1
|
988,123.1
|
N/M
|
|
Industry Average Daily Volume
|
11,974.5
|
15,656.2
|
-23.5%
|
11,974.5
|
12,983.2
|
-7.8%
|
|
Market Share
|
30.2%
|
30.3%
|
(0.11) pts
|
30.2%
|
30.1%
|
0.1 pts
|
|
Market Share: Customer
|
31.4%
|
32.4%
|
(1.03) pts
|
31.4%
|
31.8%
|
(0.4) pts
|
|
Market Share: Firm
|
28.7%
|
31.2%
|
(2.42) pts
|
28.7%
|
33.3%
|
(4.6) pts
|
|
Market Share: Market Maker
|
29.7%
|
28.4%
|
1.33 pts
|
29.7%
|
27.7%
|
2.0 pts
|
|
Index Options Volume Statistics
| |
January 2009 vs.
January 2008
|
January 2009 vs. FY
2008
|
|
(000s)
|
Jan-09
|
Jan-08
|
% Change
|
Jan-09
|
FY 2008
|
% Change
|
|
ISE Average Daily Volume
|
45.8
|
86.8
|
-47.2%
|
45.8
|
70.6
|
-35.1%
|
|
ISE Total Volume
|
916.2
|
1,822.3
|
-49.7%
|
916.2
|
17,851.3
|
N/M
|
|
Industry Average Daily Volume
|
913.8
|
1,341.0
|
-31.9%
|
913.8
|
1,170.5
|
-21.9%
|
|
Market Share
|
5.0%
|
6.5%
|
(1.5) pts
|
5.0%
|
6.0%
|
(1.0) pts
|
|
ISE FX Options® Volume Statistics
| |
January 2009 vs.
January 2008
|
January 2009 vs. FY
2008
|
|
(000s)
|
Jan-09
|
Jan-08
|
% Change
|
Jan-09
|
FY 2008
|
% Change
|
|
ISE Average Daily Volume
|
2.3
|
10.5
|
-78.1%
|
2.3
|
6.7
|
-65.7%
|
|
ISE Total Volume
|
46.9
|
220.6
|
-78.7%
|
46.9
|
1,687.2
|
N/M
|
|
ISE's market share statistics continue to be negatively impacted by trading strategies that are permitted based on a non-economic rationale. These strategies include dividend trades and synthetic short interest trades. These trades temporarily inflate and distort trading volume and market share when transacted.
Monthly Highlights
- ISE was the largest U.S. equity options exchange in January 2009.
- On January 7, 2009, ISE announced the launch of options trading on the NASDAQ Q-50 IndexSM (Ticker: NXTQ), a benchmark that tracks the 50 non-financial securities that next qualify for inclusion in the NASDAQ-100 Index. Timber Hill LLC serves as the Primary Market Maker for this new product.
- ISE traded more volume than any other options exchange in 1,199 of 2,128 issues in its listings.
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