ISE lists its FX options on NYSE
The International Securities Exchange (ISE) has entered an agreement to list its FX options on the New York Stock Exchange’s Arca Options platform. “We are very excited that, in partnership with NYSE Arca, we are extending the reach of FX options to a wider range of market participants,” says Kris Monaco, director of new product development at ISE.
The NYSE sees the move as part of its plans to deliver a multi-asset offering to its customers. “Adding FX options to our platform demonstrates our commitment to providing investors with access to a diverse suite of options products that span multiple asset classes,” says Edward Boyle, senior vice-president, NYSE Arca Options.
ISE launched its FX options in April 2007. So far, they have proved moderately successful. If nothing else, the tie up with NYSE will improve their visibility. “When we decided to try and make a move into FX, we realised it presented some good opportunities. It was already a retail product and it was also global. Talking with our brokerage members, we learned that many of their clients were opening accounts to trade FX at other venues. Some of these were either unregulated or loosely regulated, provided high leverage and almost no education.