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International Securities Exchange Holdings, Inc. (ISE Holdings) today announced that the U.S. Securities and Exchange Commission (SEC) has published for comment the Form 1 application for ISE Mercury, ISE Holdings’ third options exchange. Pending SEC approval, ISE Mercury is anticipated to be launched in Q1 2016.
“We are grateful that the SEC has published the Form 1 application, an important step forward that brings ISE Mercury closer to launch,” said Boris Ilyevsky, Managing Director of ISE’s options exchanges. “With ISE Mercury, we will be able to extend our reach to a different segment of the options market, and deliver value to our membership, by providing a comprehensive offering comprising three exchanges using the same innovative market model and reliable technology platform.”
Like ISE and ISE Gemini, ISE Mercury will use a customer priority/pro-rata market structure. However, ISE Mercury will use a different fee model than ISE Holdings’ existing exchanges, focusing on a payment for order flow/rebate-driven structure.
More information about ISE Mercury, including Membership Applications, can be found at: www.ise.com/mercury.
