The International Securities Exchange (ISE) today reported that in June 2008, its options exchange traded an average daily volume of 3.9 million contracts. The ISE Stock Exchange traded an average daily volume of 69.0 million shares in the same period.
Average daily trading volume for all options contracts increased 30.2% to 3.9 million contracts in June as compared to 3.0 million contracts during the same period in 2007. Total options volume for the month increased 30.2% to 81.4 million contracts from 62.6 million contracts in the same year-ago period. On a year-to-date basis, average daily trading volume of all options increased 42.2% to 4.0 million contracts traded as compared to 2.8 million contracts traded in the prior year.
Total year-to-date options volume through June 2008 increased 43.4% to 505.3 million contracts from 352.4 million contracts in the same period last year.
Total Options Volume (Equity, ETF, Index and FX Options)
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Equity and ETF Options Volume Statistics
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Index Options Volume Statistics
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ISE FX Options® Volume Statistics*
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*ISE FX Options began trading on April 17, 2007. Average daily volume for YTD 2007 is calculated based on the number of days the products traded.
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- On June 5, 2008, ISE elected three new members to its Board of Directors. Thomas Eichelmann, Chief Financial Officer of Deutsche Börse Group, joined the ISE Board as a non-industry director. Matthew Andresen and Timothy Brennan joined the Board as representatives of ISE's Primary Market Makers (PMMs) and Competitive Market Makers (CMMs), respectively.
- On June 9, 2008, ISE announced that its Board of Directors promoted Boris Ilyevsky to Managing Director of the options exchange, an officer position. In this role, Mr. Ilyevsky will oversee the growth and development of ISE's options market.
- On June 4, 2008, ISE announced that its options exchange offers Flash functionality, a feature that enhances the execution quality of eligible customer orders. Customer orders otherwise subject to Linkage are now auctioned to the entire ISE member community for up to one second.
- On June 17, 2008, ISE announced that it entered into an agreement with First Trust Advisors L.P. to create and list an exchange traded fund (ETF) based on the ISE Global Wind Energy Index. The ISE Global Wind Energy Index includes global listings of companies that are active in the wind energy industry, and the ETF is the first to provide a benchmark for this emerging sector.
- ISE traded more volume than any other options exchange in 963 of 1,970 issues in its listings.
- An average daily volume of 69.0 million shares traded on the ISE Stock Exchange in June 2008.
- The ISE Stock Exchange offers opportunities for price improvement through its non-displayed liquidity pool, MidPoint Match. Total price improvement in June 2008 was $3.8 million, and price improvement for all displayed market taker orders that interacted with MidPoint Match was nearly $0.01 per share.
- On June 17, 2008, ISE announced that the ISE Stock Exchange is introducing new maker/taker pricing for Tape B securities. Effective July 1, 2008, liquidity takers are charged $0.0015 per share on Tape B, down from $0.0030, and liquidity providers receive a rebate of $0.0017 per share.
