Nasdaq acquired International Securities Exchange (ISE)
As a premier options exchange operator, Nasdaq has a history of fundamentally changing the way markets operate to benefit market participants and investors. Nasdaq believes this complimentary deal brings together the best in technology and talent to create greater opportunities for innovation and efficiencies for clients.
On June 30th, Nasdaq acquired the following from Deutsche Börse Group:
- Three US Options Exchanges
- ISE – Operates a full service market model with best in class complex order handling & auction functionality under a pro-rata allocation model.
- ISE Gemini – Dedicated make/take pricing model with the same pro-rata allocation structure as ISE for passive order flow.
- ISE Mercury – Traditional pricing model catering to marketable customer order flow.
- PresISE Trade – an award-winning front end order management execution system.
- ISE ETF Ventures – creates and supports indexes that track growing industries, and emerging technologies and markets and partners with issuers to help launch exchange traded funds (ETFs), exchange traded notes (ETNs) and other similar product types.
- Longitude – technology that uses pari-mutuel principles to aggregate liquidity and produce fair and efficient prices for applications in a diverse range of industries.
Kevin Kennedy, Head of U.S. Options, will oversee all of Nasdaq’s U.S. Options businesses, reporting to Tom Wittman, Head of Global Equities. Jeanine Hightower will take the role of ISE Chief Operating Officer and will oversee the entire ISE business during the migration to Nasdaq’s INET technology, reporting directly to Kevin Kennedy. In her role, Jeanine will partner closely with her new colleagues on the U.S. Options team, including Aubree Greenspun and Greg Ferrari, to optimize and enhance the trading experience for all our customers.
Source: Nasdaq
