The International Securities Exchange (NYSE:ISE) today reported
that average daily trading volume for equity and index options
contracts for September 2006 increased 25.3% to 2.4 million
contracts as compared to 1.9 million contracts during the same
period in 2005. Total equity and index options volume for the month
increased 19.3% to 47.3 million contracts from 39.6 million
contracts in the same year-ago period. On a year-to-date basis,
average daily trading volume of equity and index options increased
38.6% to 2.3 million contracts traded as compared to 1.7 million
contracts traded in the prior year. Total equity and index volume
through September 2006 increased 37.9% to 439.8 million contracts
from 319.0 million contracts in the same period last year. Equity
and Index Options Volume Statistics Current Month Year-to-Date
(000s) Sep-06 � Sep-05 � % Change� � Sep-06 � Sep-05 � % Change�
ISE Average Daily Volume 2,363.2� 1,886.6� 25.3% 2,339.3� 1,687.8�
38.6% ISE Total Volume 47,264.4� 39,619.2� 19.3% 439,790.4�
318,995.9� 37.9% Industry Average Daily Volume 7,947.8� 6,279.0�
26.6% 7,880.8� 5,623.1� 40.1% Market Share 29.7% � 30.1% � (0.4)
pts � 29.7% � 30.0% � (0.3) pts Market Share: Customer 29.7% 30.9%
(1.2) pts 30.2% 30.2% 0 pts Market Share: Firm 24.8% 23.7% 1.1 pts
25.7% 21.8% 3.9 pts Market Share: Market Maker 31.4% � 31.2% � 0.2
pts � 30.5% � 32.1% � (1.6) pts � Equity Options Volume Statistics
Current Month Year-to-Date (000s) Sep-06 � Sep-05 � % Change� �
Sep-06 � Sep-05 � % Change� ISE Average Daily Volume 2,327.4�
1,865.0� 24.8% 2,307.0� 1,672.2� 38.0% ISE Total Volume 46,547.3�
39,165.9� 18.8% 433,724.3� 316,051.9� 37.2% Industry Average Daily
Volume 7,215.0� 5,720.3� 26.1% 7,158.7� 5,114.6� 40.0% Market Share
32.3% � 32.6% � (0.3) pts � 32.2% � 32.7% � (0.5) pts Market Share:
Customer 32.0% 33.3% (1.3) pts 32.5% 32.5% 0 pts Market Share: Firm
27.7% 26.4% 1.3 pts 28.6% 24.5% 4.1 pts Market Share: Market Maker
34.0% � 33.8% � 0.2 pts � 33.1% � 35.1% � (2.0) pts � Index Options
Volume Statistics Current Month Year-to-Date (000s) Sep-06 � Sep-05
� % Change� � Sep-06 � Sep-05 � % Change� ISE Average Daily Volume
35.9� 21.6� 66.1% 32.3� 15.6� 107.1% ISE Total Volume 717.1� 453.3�
58.2% 6,066.1� 2,944.0� 106.0% Industry Average Daily Volume 732.9�
558.8� 31.2% 722.0� 508.5� 42.0% Market Share 4.9% � 3.9% � 1.0 pts
� 4.5% � 3.1% � 1.4 pts Dividend Trade Activity Our market share
statistics continue to be negatively impacted by trading activity
related to dividend trades among certain options market makers.
These trades temporarily inflate and distort trading volume and
market share when transacted. If the volume from the largest
dividend trades were excluded from the data, our market share of
equity options for the month of September would increase to 33.3%
from 32.3%, an increase of 1.0 market share point. On a
year-to-date basis, our market share would increase to 33.2% from
32.2%, an increase of 1.0 market share point, 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. Monthly
Highlights ISE was the largest U.S. equity options exchange in
September. On September 8, 2006, ISE successfully launched its
MidPoint Match� platform, the first product to debut on the ISE
Stock Exchange, LLC. The MidPoint Match platform performed
flawlessly and ISE members reacted positively to the system's
trading structure and execution speed. Trading was initiated in ten
stocks. On September 14, 2006, ISE�s Board of Directors declared a
quarterly dividend of $0.05 per outstanding share of its Class A
Common Stock, payable on September 29, 2006 to holders of record as
of the close of business on September 22, 2006. On September 20,
2006, ISE announced its intent to create and list new foreign
currency options, called ISE FX Options�, which will provide retail
and institutional investors with a new investment strategy that
will enable them to express their views on the strength or weakness
of the U.S. Dollar relative to other currencies. ISE will initially
list the following four currency pairs: USD/EUR, USD/GBP, USD/JPY,
and USD/CAD. Trading in ISE FX Options is expected to begin in the
first quarter of 2007, pending regulatory approvals. On September
22, 2006, ISE stock listed an additional 280 stocks on its MidPoint
Match platform. On September 27, 2006, ISE announced the official
launch of its Historical Options Tick Data� offering (ISE HOT
Data�), the first in its suite of new market data products. On
September 29, 2006, ISE added 330 stocks to its MidPoint Match�
platform, bringing the total number of equities traded to 640
representing more than 75% of the total market capitalization of
U.S. traded securities. Included among the names traded are
companies in the S&P 500, select ETFs, several lower-priced
stocks, and ISE. ISE traded more volume than any other options
exchange in 672 of 941 issues in its listings. ISE Background The
International Securities Exchange, LLC (ISE) is a wholly-owned
subsidiary of International Securities Exchange Holdings, Inc. (ISE
Holdings). ISE operates an innovative securities market, founded on
the principle that technology and competition create better, more
efficient markets for investors. ISE is the largest equity options
exchange and is among the leading options exchanges in the world.
ISE developed a unique market structure for advanced screen-based
trading systems and in May 2000 launched the first fully electronic
US options exchange. The ISE Stock Exchange launched in September
2006 with strategic partners and offers an innovative MidPoint
Match platform, which will be followed by a fully integrated
displayed Best Bid Offer market in the fourth quarter. ISE Holdings
is also a majority owner of Longitude LLC, which operates an
innovative platform for events markets trading. Additionally, ISE
offers enhanced market data products for sophisticated investors.
ISE continually enhances its trading systems and develops new
products, including index options and market data, to provide
investors with the best marketplace and investment tools to trade
smarter. For more information about ISE, its options products and
its technology, visit www.iseoptions.com, for more information
about the ISE Stock Exchange, visit www.isestock.com and for more
information about Longitude, visit www.longitude.com. Certain
matters discussed in this press release are �forward looking
statements� intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. 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 annual report on
Form 10-K, current reports on Form 8-K and quarterly reports on
Form 10-Q. The International Securities Exchange (NYSE:ISE) today
reported that average daily trading volume for equity and index
options contracts for September 2006 increased 25.3% to 2.4 million
contracts as compared to 1.9 million contracts during the same
period in 2005. Total equity and index options volume for the month
increased 19.3% to 47.3 million contracts from 39.6 million
contracts in the same year-ago period. On a year-to-date basis,
average daily trading volume of equity and index options increased
38.6% to 2.3 million contracts traded as compared to 1.7 million
contracts traded in the prior year. Total equity and index volume
through September 2006 increased 37.9% to 439.8 million contracts
from 319.0 million contracts in the same period last year. -0- *T
Equity and Index Options Volume Statistics
----------------------------------------------------------------------
Current Month Year-to-Date (000s) Sep-06 Sep-05 % Change Sep-06
Sep-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,363.2 1,886.6 25.3% 2,339.3 1,687.8
38.6% ISE Total Volume 47,264.4 39,619.2 19.3% 439,790.4 318,995.9
37.9% Industry Average Daily Volume 7,947.8 6,279.0 26.6% 7,880.8
5,623.1 40.1% Market Share 29.7% 30.1% (0.4) pts 29.7% 30.0% (0.3)
pts
----------------------------------------------------------------------
Market Share: Customer 29.7% 30.9% (1.2) pts 30.2% 30.2% 0 pts
Market Share: Firm 24.8% 23.7% 1.1 pts 25.7% 21.8% 3.9 pts Market
Share: Market Maker 31.4% 31.2% 0.2 pts 30.5% 32.1% (1.6) pts
----------------------------------------------------------------------
Equity Options Volume Statistics
----------------------------------------------------------------------
Current Month Year-to-Date (000s) Sep-06 Sep-05 % Change Sep-06
Sep-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 2,327.4 1,865.0 24.8% 2,307.0 1,672.2
38.0% ISE Total Volume 46,547.3 39,165.9 18.8% 433,724.3 316,051.9
37.2% Industry Average Daily Volume 7,215.0 5,720.3 26.1% 7,158.7
5,114.6 40.0% Market Share 32.3% 32.6% (0.3) pts 32.2% 32.7% (0.5)
pts
----------------------------------------------------------------------
Market Share: Customer 32.0% 33.3% (1.3) pts 32.5% 32.5% 0 pts
Market Share: Firm 27.7% 26.4% 1.3 pts 28.6% 24.5% 4.1 pts Market
Share: Market Maker 34.0% 33.8% 0.2 pts 33.1% 35.1% (2.0) pts
----------------------------------------------------------------------
Index Options Volume Statistics
----------------------------------------------------------------------
Current Month Year-to-Date (000s) Sep-06 Sep-05 % Change Sep-06
Sep-05 % Change
----------------------------------------------------------------------
ISE Average Daily Volume 35.9 21.6 66.1% 32.3 15.6 107.1% ISE Total
Volume 717.1 453.3 58.2% 6,066.1 2,944.0 106.0% Industry Average
Daily Volume 732.9 558.8 31.2% 722.0 508.5 42.0% Market Share 4.9%
3.9% 1.0 pts 4.5% 3.1% 1.4 pts
----------------------------------------------------------------------
*T Dividend Trade Activity Our market share statistics continue to
be negatively impacted by trading activity related to dividend
trades among certain options market makers. These trades
temporarily inflate and distort trading volume and market share
when transacted. If the volume from the largest dividend trades
were excluded from the data, our market share of equity options for
the month of September would increase to 33.3% from 32.3%, an
increase of 1.0 market share point. On a year-to-date basis, our
market share would increase to 33.2% from 32.2%, an increase of 1.0
market share point, 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. Monthly Highlights -- ISE was the largest U.S.
equity options exchange in September. -- On September 8, 2006, ISE
successfully launched its MidPoint Match(TM) platform, the first
product to debut on the ISE Stock Exchange, LLC. The MidPoint Match
platform performed flawlessly and ISE members reacted positively to
the system's trading structure and execution speed. Trading was
initiated in ten stocks. -- On September 14, 2006, ISE's Board of
Directors declared a quarterly dividend of $0.05 per outstanding
share of its Class A Common Stock, payable on September 29, 2006 to
holders of record as of the close of business on September 22,
2006. -- On September 20, 2006, ISE announced its intent to create
and list new foreign currency options, called ISE FX Options(TM),
which will provide retail and institutional investors with a new
investment strategy that will enable them to express their views on
the strength or weakness of the U.S. Dollar relative to other
currencies. ISE will initially list the following four currency
pairs: USD/EUR, USD/GBP, USD/JPY, and USD/CAD. Trading in ISE FX
Options is expected to begin in the first quarter of 2007, pending
regulatory approvals. -- On September 22, 2006, ISE stock listed an
additional 280 stocks on its MidPoint Match platform. -- On
September 27, 2006, ISE announced the official launch of its
Historical Options Tick Data(TM) offering (ISE HOT Data(TM)), the
first in its suite of new market data products. -- On September 29,
2006, ISE added 330 stocks to its MidPoint Match(TM) platform,
bringing the total number of equities traded to 640 representing
more than 75% of the total market capitalization of U.S. traded
securities. Included among the names traded are companies in the
S&P 500, select ETFs, several lower-priced stocks, and ISE. --
ISE traded more volume than any other options exchange in 672 of
941 issues in its listings. ISE Background The International
Securities Exchange, LLC (ISE) is a wholly-owned subsidiary of
International Securities Exchange Holdings, Inc. (ISE Holdings).
ISE operates an innovative securities market, founded on the
principle that technology and competition create better, more
efficient markets for investors. ISE is the largest equity options
exchange and is among the leading options exchanges in the world.
ISE developed a unique market structure for advanced screen-based
trading systems and in May 2000 launched the first fully electronic
US options exchange. The ISE Stock Exchange launched in September
2006 with strategic partners and offers an innovative MidPoint
Match platform, which will be followed by a fully integrated
displayed Best Bid Offer market in the fourth quarter. ISE Holdings
is also a majority owner of Longitude LLC, which operates an
innovative platform for events markets trading. Additionally, ISE
offers enhanced market data products for sophisticated investors.
ISE continually enhances its trading systems and develops new
products, including index options and market data, to provide
investors with the best marketplace and investment tools to trade
smarter. For more information about ISE, its options products and
its technology, visit www.iseoptions.com, for more information
about the ISE Stock Exchange, visit www.isestock.com and for more
information about Longitude, visit www.longitude.com. Certain
matters discussed in this press release are "forward looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of
1995. 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 annual report on
Form 10-K, current reports on Form 8-K and quarterly reports on
Form 10-Q.
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