OPTIONS EXCHANGE TO PUBLISH EXECUTION QUALITY REPORTS

Posted August 24, 2009

NEW YORK – The International Securities Exchange (ISE) has begun publishing monthly execution quality reports that follow the guidelines set by the Securities Industry and Financial Markets Association (SIFMA).

SIFMA’s Equity Options Trading Committee has worked with US options exchanges on the guidelines for these types of reports as a voluntary means to achieve market quality and set best execution metrics for the options industry.

“We are pleased to participate in this program and to increase transparency into the quality of our options market with these timely and reliable reports,” says Boris Ilyevsky, Managing Director of ISE's options exchange.

The reports disclose key execution metrics for the exchange by order size and underlying security. Statistics include the number of trades and contracts executed at the National Best Bid Offer (NBBO) and price improvement.