ISE Launches New FTSE 100 Index Options; Innovative ``Mini'' Structure Easier To Trade
May 11 2006 - 8:30AM
Business Wire
The International Securities Exchange (NYSE: ISE) announced today
that on May 5th, 2006, it launched index options on the FTSE 100
through an innovative "Mini" contract structure whereby one
contract is equivalent to 100 underlying shares of the FTSE 100.
This product was developed with FTSE Group, the award-winning index
provider. Timber Hill LLC serves as the Primary Market Maker. This
is the first time that FTSE 100 options have traded electronically
in the U.S., as well as the first time that FTSE "Mini" contracts
on indexes are being offered in the U.S. Additionally, this will be
ISE's first international cash-settled index options. "We are
extremely pleased to introduce the first electronically traded
"Mini" index options on the FTSE 100," said Bruce D. Goldberg,
ISE's Chief Marketing Officer. "We believe this product anticipates
investor demand for global diversification and risk management
trading strategies and delivers an effective trading strategy that
is both affordable and easy to use for both retail and
institutional investors alike." Mark Makepeace, Chief Executive of
FTSE Group, commented, "This is an exciting development for U.S.
investors to now have a domestic opportunity to invest in the FTSE
100, an important industry measure." Additional information about
this product, including methodology guides, component lists and
weightings, performance metrics and historical data is available on
ISE's website, www.iseoptions.com, on the Products Traded / Index
Options page. ISE Background The International Securities Exchange
(ISE) is 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 LLC will launch in the
third quarter of 2006 with strategic partners, offering an
innovative MidPoint Match platform, followed by a fully integrated
displayed Best Bid Offer (BBO) market in the fourth quarter. ISE is
also a majority owner of Longitude LLC, an innovative platform for
events markets trading, and 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
and for more information about the ISE Stock Exchange LLC, visit
www.isestock.com.
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