ISE Mercury™ to Launch on February 16, 2016
SEC approves ISE’s Form 1 Application for Third Options Exchange
The International Securities Exchange Holdings, Inc. (ISE Holdings) announced that the Securities and Exchange Commission (SEC) has approved its Form 1 application for ISE Mercury™, ISE Holdings’ third options exchange. On February 16, 2016, ISE Mercury will begin trading with a small number of symbols and expects to quickly roll out listings in its first few weeks of operation.
“With the launch of ISE Mercury, our portfolio of three options markets will provide our members with access to a comprehensive offering targeting all segments of the options industry,” said Boris Ilyevsky, Managing Director of ISE Options. “We are excited to share with our members the opportunities and value of a third exchange that is integrated with our proven technology platform and uses our well-established market model.”
ISE Mercury will offer the same customer priority/pro-rata market structure as ISE and ISE Gemini. However, ISE Mercury will use a different fee model than both of ISE Holdings’ existing exchanges, focusing on a payment for order flow/rebate-driven structure.
ISE Mercury membership consists of Primary Market Makers (PMMs), Competitive Market Makers (CMMs), and Electronic Access Members (EAMs). To date, ISE Mercury has received applications from twenty-eight members, eight of which are market makers.
Source: ISE – ISE Mercury™ to Launch on February 16, 2016
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