ISE STOCK EXCHANGE INCREASES REBATE AND SIMPLIFIES MIDPOINT MATCH FEES

Posted April 23, 2008

NEW YORK – The ISE Stock Exchange, operated by the International Securities Exchange (ISE), is increasing its rebates for certain higher volume users and simplifying fees for its MidPoint Match service into a three-tiered structure.

Beginning May 1, liquidity providers on the exchange will get a higher rebate, $0.0035 per share across all tapes, when monthly average daily volume of executed market shares is over 5 million. The first 5 million shares each day will still receive a rebate of $0.0032 and taker price per share will stay at $0.0030 for all volume levels.

The MidPoint Match fee structure will have a lower starting level of $0.0015 per share for those trading average daily volume of one million shares or less. Those trading one million to three million shares in average daily volume will pay a fee of $0.0010 per share; users trading an average of more than three million shares daily will pay a fee adjusted retroactively to $0.0010 per share for all volume.

“Our goal is to continue to attract liquidity to our marketplace,” says Andrew Brenner, Head of the ISE Stock Exchange. “We believe this new pricing structure will provide an added incentive for traders to send their orders to the ISE Stock Exchange, enabling them to receive the benefits of price improvement.”