CORRECTING and REPLACING ISE Reports Monthly Volume for March 2006; Average Daily Volume of 2.1 Million Contracts, Up 27% from
04 April 2006 - 4:11AM
Business Wire
In second table titled "Equity Options Volume Statistics", the
Customer, Firm and Market Maker market share statistics have been
revised. The corrected release reads: ISE REPORTS MONTHLY VOLUME
FOR MARCH 2006; AVERAGE DAILY VOLUME OF 2.1 MILLION CONTRACTS, UP
27% FROM MARCH 2005 The International Securities Exchange, Inc.
(NYSE:ISE) today reported that average daily trading volume for
equity and index options contracts for March 2006 increased 26.5%
to 2.1 million contracts as compared to 1.7 million contracts
during the same period in 2005. Total equity and index options
volume for the month increased 32.3% to 49.2 million contracts from
37.2 million contracts in the same year-ago period. On a
year-to-date basis, average daily trading volume of equity and
index options increased 37.6% to 2.4 million contracts traded as
compared to 1.7 million contracts traded in the prior year. Total
equity and index volume through March 2006 increased 39.9% to 147.8
million contracts from 105.7 million contracts in the same period
last year. As was the case in prior months, we witnessed trading
activity among options market makers on certain other exchanges
related to dividend trades. The trading activity associated with
dividend trades once again allowed traders to profit at the expense
of investors who failed to exercise their call options immediately
prior to a stock going ex-dividend. If the volume from the largest
dividend trades were excluded from the data, our market share of
equity options for the month of March would increase to 34.3% from
32.3%, an increase of 2.0 market share points. On a year-to-date
basis our market share would increase to 34.6% from 32.7%, an
increase of 1.9 market share points, if the volume from the largest
dividend trades were excluded. The exclusion of dividend trades
from total industry volume data presents a more relevant measure of
the relative trends in our business. -0- *T Equity and Index
Options Volume Statistics
----------------------------------------------------------------------
Current Month (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,139.2 1,690.6 26.5% ISE Total Volume
49,202.3 37,193.6 32.3% Industry Average Daily Volume 7,137.2
5,635.1 26.7% Market Share 30.0% 30.0% 0.0 pts
----------------------------------------------------------------------
ISE Market Share: Customer 31.7% 30.3% 1.4 pts ISE Market Share:
Firm 24.2% 22.6% 1.6 pts ISE Market Share: Market Maker 30.3% 31.8%
(1.5) pts
----------------------------------------------------------------------
Year-to-Date (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,384.1 1,732.6 37.6% ISE Total Volume
147,815.1 105,687.3 39.9% Industry Average Daily Volume 7,827.7
5,699.9 37.3% Market Share 30.5% 30.4% 0.1 pts
----------------------------------------------------------------------
ISE Market Share: Customer 32.1% 30.7% 1.4 pts ISE Market Share:
Firm 24.9% 21.2% 3.7 pts ISE Market Share: Market Maker 30.6% 32.6%
(2.0) pts
----------------------------------------------------------------------
Equity Options Volume Statistics
----------------------------------------------------------------------
Current Month (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,115.1 1,679.2 26.0% ISE Total Volume
48,646.5 36,943.0 31.7% Industry Average Daily Volume 6,548.9
5,130.6 27.6% Market Share 32.3% 32.7% (0.4) pts
----------------------------------------------------------------------
ISE Market Share: Customer 34.0% 32.7% 1.3 pts ISE Market Share:
Firm 26.8% 25.4% 1.4 pts ISE Market Share: Market Maker 32.5% 34.8%
(2.3) pts
----------------------------------------------------------------------
Year-to-Date (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,356.4 1,727.2 36.4% ISE Total Volume
146,095.3 105,360.8 38.7% Industry Average Daily Volume 7,201.7
5,223.2 37.9% Market Share 32.7% 33.1% (0.4) pts
----------------------------------------------------------------------
ISE Market Share: Customer 34.2% 32.7% 1.5 pts ISE Market Share:
Firm 27.6% 24.7% 2.9 pts ISE Market Share: Market Maker 32.8% 34.3%
(1.5) pts
----------------------------------------------------------------------
Index Options Volume Statistics
----------------------------------------------------------------------
Current Month (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 24.2 11.4 112.2% ISE Total Volume 555.8
250.5 121.9% Industry Average Daily Volume 588.4 504.5 16.6% Market
Share 4.1% 2.3% 1.8 pts
----------------------------------------------------------------------
Year-to-Date (000s) Mar-06 Mar-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 27.7 5.4 418.2% ISE Total Volume 1,719.8
326.6 426.7% Industry Average Daily Volume 625.9 476.7 31.3% Market
Share 4.4% 1.1% 3.3 pts
----------------------------------------------------------------------
*T Monthly Highlights -- ISE was the largest U.S. equity options
exchange in March. -- On March 17, 2006 ISE declared a quarterly
dividend of $0.05 per outstanding share of its Class A Common
Stock, payable on March 31, 2006 to holders of record as of the
close of business on March 23, 2006. -- On March 20, 2006 ISE was
added to the Dow Jones Global Exchange Index. -- ISE traded more
volume in 657 of 878 issues in its listings than any other options
exchange. 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. 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
statements on Form S-1, current reports on Form 8-K and quarterly
reports on Form 10-Q, as amended.
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