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Bins 1-10 represent ISE�s first market and Bins 50-56 represent ISE�s second market.
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Primary Market Makers "PMMs"
Competitive Market Makers "CMMs"
Electronic Access Members "EAMs"
PMMs are market makers with
significant responsibilities,
including overseeing the opening,
providing continuous quotations
in all of their assigned options classes, and
handling customer orders that
are not automatically executed.
A PMM must purchase or lease
a PMM membership entitling the member to act
as PMM in one group (or "bin") of stock options. One PMM is assigned to each of the 16 bins of options traded on the Exchange.
An important advantage of having a PMM assigned to each stock option is that members have a point of contact, who is responsible for maintaining orderly markets and is available to answer market questions and resolve trading related issues.
FIRST MARKET
| Citigroup Derivatives Markets Inc. | Bin 1
| | SLK-Hull Derivatives LLC | Bin 2
| | Citigroup Derivatives Markets Inc. | Bin 3
| | Citadel Derivatives Group LLC | Bin 4
| | Merrill Lynch Professional Clearing Corporation | Bin 5
| | UBS Securities LLC | Bin 6
| | Timber Hill LLC | Bin 7
| | Citadel Derivatives Group LLC | Bin 8
| | SLK-Hull Derivatives LLC | Bin 9
| | Morgan Stanley & Co. Incorporated | Bin 10
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SECOND MARKET
| Citadel Derivatives Group LLC | Bin 51
| | SLK-Hull Derivatives LLC | Bin 52
| | Morgan Stanley & Co. Incorporated | Bin 53
| | Merrill Lynch Professional Clearing Corporation | Bin 54
| | Timber Hill LLC | Bin 55
| | UBS Securities LLC | Bin 56
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CMMs are market makers that add depth and liquidity to the market. CMMs in the first market are required to provide continuous quotations in at least 60% of the options classes in their assigned group. Each CMM quotes independently. CMMs in the Second Market do not have a minimum quoting requirement. A CMM must purchase or lease a CMM membership to enter quotations in the first market, and each membership entitles the member to enter quotations in one group of options in the first market.
Up to 16 CMMs are appointed to each of the 16 bins of options traded on the Exchange.
FIRST MARKET
| Archelon LLC | Bins 1, 2, 3, 4, 5, 7, 10
| | Bear Wagner Specialists LLC | Bins 2, 6, 7, 9
| | Citadel Derivatives Group LLC | Bins 1, 2, 3, 5, 6, 7, 9, 10
| | Citigroup Derivatives Markets Inc. | Bins 2, 4, 5, 6, 7, 8, 9, 10
| | Credit Suisse Securities (USA) LLC | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9, 10
| | CTC, L.L.C. | Bin 9
| | Group One Trading, L.P. | Bin 8
| | Holland Trading House LLC | Bin 5
| | J.P. Morgan Securities Inc. | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9, 10
| | Lehman Brothers Inc. | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9, 10
| | Merrill Lynch Professional Clearing Corporation | Bins 1, 2, 3, 4, 6, 7, 8, 9, 10
| | Morgan Stanley & Co. Incorporated | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9
| | Optiver US, LLC | Bins 3, 4
| | Ronin Capital, LLC | Bins 2, 3, 6, 8, 9, 10
| | SLK-Hull Derivatives LLC | Bins 1, 3, 4, 5, 6, 7, 8, 10
| | Susquehanna Investment Group | Bins 1, 3, 4, 5, 6, 7, 8, 9, 10
| | TD Options LLC | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9, 10
| | Timber Hill LLC | Bins 1, 2, 3, 4, 5, 6, 8, 9, 10
| | UBS Securities LLC | Bins 1, 2, 3, 4, 5, 7, 8, 9, 10
| | Walleye Trading, LLC | Bins 1, 2, 4, 5, 6, 7, 8, 10
| | Wolverine Trading, LLC | Bins 1, 2, 3, 4, 5, 6, 7, 8, 9, 10
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SECOND MARKET
| Citadel Derivatives Group LLC | Bins 52, 53, 54, 55, 56
| | SLK-Hull Derivatives LLC | Bins 51, 53, 54, 55, 56
| | Morgan Stanley & Co. Incorporated | Bins 51, 52, 54, 55, 56
| | Merrill Lynch Professional Clearing Corporation | Bins 51, 52, 53, 55, 56
| | Ronin Capital, LLC | Bins 51, 52, 53, 54, 55, 56
| | Susquehanna Investment Group | Bins 51, 52, 53, 54, 55, 56
| | TD Options LLC | Bins 51, 52, 53, 54, 55, 56
| | Timber Hill LLC | Bins 51, 52, 53, 54, 56
| | UBS Securities LLC | Bins 51, 52, 53, 54, 55
| | Wolverine Trading, LLC | Bins 51, 52, 53, 54, 55, 56
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EAMs are broker/dealers that represent agency and proprietary orders on the Exchange. An EAM does not purchase a membership. Rather, once approved as an ISE member, an EAM pays an access fee that permits the firm to place orders in all of the options traded on the Exchange. EAMs cannot enter quotations or otherwise engage in market making activities on the Exchange.
| ABS Brokerage Services, LLC | | ADP Clearing & Outsourcing Services, Inc. | | Ameritrade, Inc. | | Andrie Trading, LLC | | Automated Trading Desk Brokerage Services, LLC | | Banc of America Securities LLC | | Barclays Capital, Inc. | | Bear Wagner Specialists LLC | | Bear, Stearns & Co. Inc. | | Bear, Stearns Securities Corp. | | Benchmark Company, LLC [The] | | Biremis Corporation | | Bloomberg Tradebook LLC | | Blue Capital Group LLC | | BNP Paribas Securities Corp. | | BrownCo, LLC | | Bulltick, LLC | | Calyon Financial Inc. | | Calyon Securities (USA) Inc. | | Cantor Fitzgerald & Co. | | Capstone Trading, LLC | | Casey Professional Services, LLC | | Casey Securities, LLC | | Cathay Financial, Inc. | | Charles Schwab & Co., Inc | | CIBC World Markets Corp. | | Citadel Derivatives Group LLC | | Citadel Trading Group LLC | | Citigroup Global Markets Inc. | | Clancy's on Wall, Inc. | | Collins Stewart Inc. | | Compass Professional Services, LLC | | Cornerstone Trading, LLC | | Correspondent Services Corporation | | Cowen & Company, LLC | | Credit Suisse Securities (USA) LLC | | CTC, L.L.C. | | CyberTrader, Inc. | | Daiwa Securities America Inc. | | DC Trading Partners LLC | | Deutsche Bank Securities Inc. | | Divine Capital Markets LLC | | Dresdner Kleinwort Securities LLC | | E*TRADE Clearing LLC | | Electronic Brokerage Systems, LLC | | Equate Trading Group, LLC | | Equitec Proprietary Markets, LLC | | EWT, LLC | | Exane, Inc. | | Fimat USA, LLC | | First Clearing, LLC | | First New York Securities L.L.C. | | First Southwest Company | | Fortis Clearing Americas LLC | | G-Bar Limited Partnership | | Genesis Securities, LLC | | Geneva Trading LLC | | GFI Securities LLC | | Global Execution Brokers, LP | | Goldman Sachs Execution & Clearing, L.P. | | Goldman, Sachs & Co. | | Group One Trading, L.P. | | Guzman & Company | | Hapoalim Securities USA, Inc. | | Hardcastle Trading USA L.L.C. | | Heights Partners, Inc. | | Holland Trading House LLC | | HSBC Securities (USA) Inc. | | Husky Trading | | ICAP Corporates LLC | | Ingalls & Snyder, LLC | | Instinet, LLC | | Interactive Brokers LLC | | International Correspondent Trading, Inc. | | ISERoute, LLC | | Israel A. Englander & Co. Inc. | | J.J.B. Hilliard, W.L. Lyons, Inc. | | J.P. Morgan Securities Inc. | | Jefferies & Company, Inc. | | Jefferies Execution Services, Inc. | | Jump Trading, LLC | | KBC Financial Products USA Inc. | | Kellogg Partners Institutional Services | | Kelmoore Investment Company, Inc. | | Knight Equity Markets, L.P. | | KV Execution Services LLC | | LaBranche Structured Products LLC | | Lavaflow, Inc. | | Legent Clearing Corp. | | Lehman Brothers Inc. | | Lek Securities Corporation | | Linkbrokers Derivatives Corporation | | Liquidpoint, LLC | | Louis Capital Markets, LP | | MAKO Financial Markets, LLC | | Man Securities Inc | | Maxim Group LLC | | Merrill Lynch Professional Clearing Corporation | | Merrill Lynch, Pierce, Fenner & Smith Incorporated | | Mesirow Financial, Inc. | | MillenCo, L.P. | | Miller Tabak + Co., LLC | | Monadnock Capital Management, LP | | Morgan Stanley & Co. Incorporated | | Morgan Stanley DW Inc. | | Nasdaq Execution Services, LLC | | National Financial Services LLC | | Neuberger Berman, LLC | | Nomura Securities International, Inc. | | NYFIX Transaction Services, Inc. | | OCTEG, LLC | | Oppenheimer & Co. Inc. | | optionsXpress, Inc. | | OTA LLC | | Pali Capital Inc. | | Parallax Fund, L.P. | | PEAK6 Capital Management LLC | | Penson Financial Services, Inc. | | Pershing LLC | | PFTC L.L.C. | | Pictet Overseas Inc. | | Prebon Financial Products Inc. | | Prudential Equity Group, LLC | | PTR, Inc. | | Quiet Light Securities, LLC | | R.F. Lafferty & Co., Inc. | | RBC Capital Markets Corporation | | RedSky Financial, LLC | | Rochdale Securities LLC | | Ronin Capital, LLC | | ROQ Capital, LLC | | Rosenblatt Securities Inc. | | Samurai Trading, LLC | | Sanford C. Bernstein & Co., LLC | | Schonfeld Securities, LLC | | SG Americas Securities, LLC | | Shoreline Trading Group, LLC | | Southwest Securities, Inc. | | Sun Trading, LLC | | Swiss American Securities Inc. | | TD Options LLC | | TD Professional Execution, Inc. | | Terra Nova Trading, LLC | | TFS Derivatives Corporation | | Track Data Securities Corp. | | TradeKing | | TradeStation Securities, Inc. | | Tradition Asiel Securities Inc. | | UBS Clearing Services Corporation | | UBS Financial Services, Inc. | | UBS Securities LLC | | Vandham Securities Corp. | | VDM Trading, LLC | | Wachovia Capital Markets, LLC | | Wachovia Securities, LLC | | Wall Street Access | | Wolverine Execution Services, LLC | | Wolverine Trading, LLC |
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