The International Securities Exchange (ISE) announced that it has filed a Form 1 application for a second exchange license with the Securities and Exchange Commission.
ISE plans to launch its second options exchange platform by the end of 2012, pending SEC approval.
"Having a second exchange license will enhance ISE's flexibility to meet the evolving needs of ourmembers in a highly competitive environment," said Gary Katz, President and Chief Executive Officer of ISE. "Our Optimise technology platform was designed to support multiple markets and will enable our member firms to leverage their existing connectivity for our new exchange as well as to benefit from Optimise's superior technology and functionality."
In addition to Optimise's extremely low latency profile, its industry-leading functionality for trading multilegged strategy orders will be incorporated into the new exchange.
Details about the products to be traded, market structure, and fee schedule of the new exchange will be announced at a later date.