ISE Launches New Electronic Trading Index
The International Securities Exchange (NYSE:ISE) announced the launch of the ISE Electronic Trading Index™, which establishes a unique benchmark for a specialty sector within financial services. The stocks comprising the index include electronic brokers, market makers, educational firms, exchanges, and other marketplaces deemed to be most closely associated with electronic trading in the
United States
. Additionally, ISE has listed cash-settled options based on this new index under the symbol DMA. Timber Hill LLC serves as the Primary Market Maker.
The ISE Electronic Trading Index was developed in response to growing interest in the companies that have advanced electronic trading capabilities across all asset classes, and the desire on the part of investors to gain increasingly more targeted exposure to specially segmented sectors. The ISE Electronic Trading Index currently contains 18 companies that derive a substantial portion of their revenues from electronic trading, such as Knight Trading (Ticker: NITE), TD Ameritrade (Ticker: AMTD) and optionsXpress (Ticker: OXPS).
"ISE is pleased to offer investors the ISE Electronic Trading Index to track the performance of this fast-growing segment of the financial services marketplace. We have been at the forefront of electronic trading since our inception, and so it makes sense that ISE established a well-rounded benchmark that encompasses all major participants in this industry," said Bruce D. Goldberg, ISE's Chief Marketing Officer.
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ISE Announces Enhancements to PrecISE Trade
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The International Securities Exchange also announced enhancements to PrecISE Trade, its front-end trading application for broker-dealers to access ISE's options market. PrecISE now offers Away Market Routing that enables traders to access the entire options market through one workstation.
With Away Market Routing, traders are able to directly route options orders to other markets or sweep the entire marketplace for the best quote. PrecISE accepts orders for all options, including orders for non-ISE listed options. This enhancement allows users to select PrecISE as a single application for all their options trading needs. PrecISE also supports the entry of stock-option combination orders, such as buy-write and delta neutral orders, through its easy-to-use interface.
ISE began its PrecISE rollout in March 2006. Presently, over ninety firms trade through PrecISE, which is active on over 430 desktops. Developed internally by ISE's technology team, PrecISE continues to undergo enhancements and upgrades that provide users with greater trading flexibility.
Frank Kneipher
FKPRINTS1@YAHOO.COM
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