ISE Announces Possible Business Combination
30 April 2007 - 11:21PM
Business Wire
In response to a press statement issued today by Deutsche Boerse
AG, the International Securities Exchange Holdings, Inc. (NYSE:
ISE) confirmed that it is in advanced discussions that could lead
to a possible business combination with Eurex. The transaction is
still subject to the negotiation of final terms and documentation
as well as approval by ISE�s Board of Directors. Even if a
definitive agreement is reached, consummation of a transaction
would be subject to a number of conditions, including ISE
shareholder approval, SEC regulatory approval under Section 19(b)
of the Securities Exchange Act of 1934 and clearance under the
Hart-Scott-Rodino Antitrust Improvements Act of 1976. ISE will have
no further comment until these discussions have concluded. ISE
Background International Securities Exchange Holdings, Inc. (NYSE:
ISE), through its subsidiaries, operates a family of innovative
securities markets. ISE is founded on the principle that technology
and competition create better, more efficient markets for investors
and consists of an options exchange, a stock exchange and an
alternative markets platform. ISE continually enhances its trading
systems and develops new products to provide investors with the
best marketplace and investment tools to trade smarter. ISE
developed a unique market structure for advanced screen-based
trading systems and in May 2000 launched the first fully electronic
US options exchange. Currently, ISE operates the largest U.S.
equity options exchange and is among the leading options exchanges
in the world. ISE offers index options, including a portfolio of
proprietary index products, and enhanced market data products for
sophisticated investors. ISE FX Options� launched in the second
quarter of 2007. ISE Stock Exchange, launched in September 2006
with strategic partners, includes an innovative MidPoint Match�
platform which offers investors continuous price improvement.
MidPoint Match was integrated with a fully displayed Best Bid Offer
market in the fourth quarter of 2006. ISE�s alternative markets
business currently consists of an events market trading platform
known as Longitude. Longitude�s patented and proprietary technology
provides a unique parimutuel structure for derivatives auctions
which results in greater trading and pricing flexibility for market
participants. For more information about ISE and its options
exchange, visit www.iseoptions.com and for more information about
ISE Stock Exchange, visit www.isestock.com. Additionally, to learn
more about ISE alternative markets technology, visit
www.longitude.com. Forward Looking Statements 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, as
amended.
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