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Last Updated: May 6, 2008 - 6:47:21 AM |
The International Securities Exchange (NYSE:ISE) reported that in November 2007, its options exchange traded a record average daily volume of 4.3 million contracts. The ISE Stock Exchange traded an average daily volume of 52.2 million shares in the same period.
Average daily trading volume for equity and index options contracts increased 70.8% to a record 4.3 million contracts in November as compared to 2.5 million contracts during the same period in 2006. Average daily trading volume in equity options reached a record 4.2 million contracts, an increase of 69.6% over last year, while average daily volume in index options increased 154.9% to 0.1 million contracts. Total equity and index options volume for the month increased 70.8% to 90.1 million contracts from 52.7 million contracts in the same year-ago period.
On a year-to-date basis, average daily trading volume of equity and index options increased 35.1% to 3.2 million contracts traded as compared to 2.4 million contracts traded in the prior year. Total year-to-date equity and index volume through November 2007 increased 35.1% to 741.6 million contracts from 548.8 million contracts in the same period last year.
Dividend Trade Activity
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 November would increase to 31.7% from 31.2%, an increase of 0.5 market share points.
On a year-to-date basis, our market share would increase to 31.3% from 30.6%, an increase of 0.7 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.
IISE was the largest U.S. equity options exchange in November. On November 8, 2007, ISE's options exchange set a new record daily trading volume of 6,920,132 equity and index options contracts, surpassing the previous record of 6,532,403 contracts traded on August 16, 2007.
Open interest in ISE FX Options continues to grow and reached 304,516 contracts on November 30, 2007, surpassing open interest of 217,295 contracts at the end of October. ISE traded more volume than any other options exchange in November.
© Copyright 2008 by OptionsMentoring.com
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