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Definition: International Securities Exchange – ISE
The ISE is an electronic options exchange, a fully owned subsidiary of Eurex, the German derivatives exchange which is owned by the Deutsche Borse. It was launched on May 26 2000 and is headquartered in New York. It was the first fully electronic options exchange in the United States of America.
Equity and index options are traded on the ISE. This included proprietary products and also foreign exchange options. It also offers market data tools which are designed for more sophisticated investors who look for information on market sentiments and the prevailing volatility. Launch of the ISE was a revolutionary event as computerised trading lead to increased efficiency and increased liquidity leading to reduction in pricing volatility.
In august 2008, ISE partnered with Direct Edge, the electronic communication network making ISE the fully owned subsidiary of Direct Edge. ISE also got a stake in Direct Edge. ISE increased its focus on index development and ETF by launching ISE ETF Ventures in 2013. Gary Katz is the CEO of ISE.
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