ISE to Deliver Options Depth of Market Data
03 November 2005 - 1:15AM
Business Wire
The International Securities Exchange (NYSE: ISE) announced today
its intention to provide access to depth of market data to provide
transparency for investors beyond the Best Bid Offer (BBO). This
will be available in the second quarter of 2006. ISE plans a
flexible data platform configured with three price levels of depth
to provide investors with a consolidated view of tradable prices
and liquidity beyond the top of the book. The depth data will be
aggregated prior to distribution which will reduce the bandwidth
requirements. The ISE will use the new optimized FIX FAST
(Financial Information eXchange Adapted for Streaming) market data
protocol, rather than introduce a proprietary API which will
minimize developers' learning curve and reduce integration time.
Pricing for this offering is subject to SEC approval. ISE's new
depth of market data will be distributed over the Secure Financial
Transaction Infrastructure network (SFTI) as a separate offering
from the existing Options Pricing Reporting Authority (OPRA) feed.
Clients can reduce costs and implementation efforts by leveraging
their existing SFTI connectivity. This direct connection will also
minimize the latency associated with traditional distribution
alternatives. This data offering reinforces ISE's leadership
position in introducing new innovations to help improve trading
efficiency. ISE is the world's largest equity options exchange,
with the deepest and most liquid quoted markets for the options it
trades. ISE Background The International Securities Exchange, the
world's largest equity options exchange, was founded on the
principle that technology fosters and infuses new efficiencies and
operational innovations into securities trading. After developing
an innovative market structure that integrated auction market
principles into an advanced screen-based trading system, ISE
launched the first fully electronic US options exchange in May
2000. ISE continually enhances its trading systems to provide
investors with the best marketplace to execute their options
orders. For more information about ISE, its products and its
technology, visit www.iseoptions.com. ISEE and ISE Sentiment Index
are registered trademarks of International Securities Exchange,
Inc. Forward Looking Statements This press release contains
"forward looking statements." These statements relate to future
events or our future financial performance, and involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements, to
be materially different from those contemplated by the forward
looking statements. We undertake no ongoing obligation, other than
that imposed by law, to update these statements. Factors that could
affect our results, levels of activity, performance or achievements
and cause them to materially differ from those contained in the
forward looking statements can be found in our filings with the
Securities and Exchange Commission, including our registration
statement on Form S-1, current reports on Form 8-K and quarterly
reports on Form 10-Q, as amended.
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