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The world has embraced electronic
trading and the model of electronic trading is well suited for
listed options. The enormous number of products and associated
quotes and transactions is a perfect fit for ISE�s high capacity central
trading system.
Members have direct access to the ISE system, allowing for immediate submission,
amendment and cancellation of orders in the order book.
Orders in the central orderbook are automatically executed by price priority.
Customer orders are executed based on time of entry, and receive priority over
non-customer orders.
The ISE�s central system, powered by next-generation Alpha and Intel-based servers
of Hewlett-Packard Company, can provide users with an order turnaround time of
under one-second.
The rapid execution and electronic time stamping of orders and quotes, coupled
with electronic trade matching, contributes to the accuracy of trading on the
ISE.
The proprietary open interface allows members to develop applications to work
directly with the Exchange�s central system. The open interface uses an Application
Programmers Interface (API) to send and receive executions and market information
directly to members. |
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