Latest News

ISE Announces Changes to Board Leadership

NEW YORK, March 19, 2008 – The International Securities Exchange announced that its Board of Directors unanimously elected Frank J. Jones, PhD as its Vice Chairman. Dr. Jones has been a director of ISE since 2000 and previously served as Vice Chairman from June 2002 to May 2006 and Chairman from May 2006 until January 2008. ISE's Board of Directors also unanimously elected director Kenneth Vecchione to serve as the Chairman of its Finance and Audit Committee.

David Krell, Chairman of ISE, said, “On behalf of the ISE Board of Directors, I would like to express my appreciation to Frank Jones for his willingness to provide continuity by reassuming the role of Vice Chairman. I also am grateful that Ken Vecchione has agreed to Chair the Finance and Audit Committee. Our Board of Directors will benefit from the significant expertise that both Frank and Ken will bring to these important leadership roles.”

Dr. Jones has been a Professor in the accounting and business department at San Jose State University since 2003. Additionally, Dr. Jones was Executive Vice President and Chief Investment Officer of Guardian Life Insurance Company of America from 1991 to 2002. Previously, Dr. Jones was Managing Director at Merrill Lynch & Co., Global Fixed Income Research and Economics. He has served on several boards, including The Intermarket Clearing Corporation (a subsidiary of OCC), OCC and New York Futures Clearing Corporation. Dr. Jones holds a Ph.D. in Economics from Stanford University, a M.B.A. from the University of Pittsburgh, a M.S. in Nuclear Engineering from Cornell University and a B.A. and B.S. from University of Notre Dame.

Mr. Vecchione currently serves as Chief Financial Officer of Apollo Global Management, L.P. Previously, he was the Vice-Chairman and Chief Financial Officer of MBNA Corporation from 2004 to 2006. Mr. Vecchione's prior experience includes serving as Chief Financial Officer of AT&T; Universal Card Services from 1997 to 1998 and Chief Financial Officer and Group President of First Data Corporation's Electronic Funds Management business from 1994 to 1997. He also worked at Citigroup for 17 years, where he was Chief Financial Officer of their credit card business. Mr. Vecchione is a board member and Chairman of the Audit Committee for Affinion Group. Mr. Vecchione is also a board member and Chairman of the Finance and Loan Committee for Western Alliance Bancorp (NYSE: WAL). He holds a B.S. in Accounting from the University of New York at Albany.

ISE Background

The International Securities Exchange operates a family of fully electronic trading platforms, creating efficient markets through innovative technology and market structure. ISE's markets portfolio consists of an options exchange and a stock exchange. As the world's largest equity options trading venue, ISE offers options on equities, ETFs, indexes, and FX. The ISE Stock Exchange trades approximately 6,000 products, and is the only fully electronic equities platform that provides the opportunity for continuous price improvement through the interaction of its non-displayed liquidity pool, MidPoint Match, and its displayed stock market. ISE Alternative Markets is scheduled to launch in 2008 and will offer an events market trading platform for derivatives auctions. To complement its markets and enable investors to trade smarter, ISE creates innovative new products including a portfolio of proprietary indexes and enhanced market data products for sophisticated investors.

ISE is a wholly owned subsidiary of Eurex, a leading global derivatives exchange. Eurex itself is jointly owned by Deutsche Börse AG (Ticker: DB1) and SWX Swiss Exchange. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives.


Molly H. McGregor
International Securities Exchange
[email protected]