The International Securities Exchange (ISE) today reported that in February 2008, its options exchange traded an average daily volume of 3.7 million contracts. The ISE Stock Exchange traded an average daily volume of 76.1 million shares in the same period. Average daily trading volume for equity and index options contracts increased 36.3% to 3.7 million contracts in February as compared to 2.7 million contracts during the same period in 2007. Total equity and index options volume for the month increased 43.5% to 73.3 million contracts from 51.1 million contracts in the same year-ago period. On a year-to-date basis, average daily trading volume of equity and index options increased 55.7% to 4.3 million contracts traded as compared to 2.7 million contracts traded in the prior year. Total year-to-date equity and index volume through February 2008 increased 63.7% to 174.9 million contracts from 106.9 million contracts in the same period last year. � Equity and Index Options Volume Statistics � Current Month � Year-to-Date (000s) � Feb-08 � Feb-07 � % Change � Feb-08 � Feb-07 � % Change ISE Average Daily Volume 3,666.2 � 2,689.9 � 36.3% 4,266.2 � 2,740.2 � 55.7% ISE Total Volume 73,324.0 51,109.0 43.5% 174,913.0 106,867.9 63.7% Industry Average Daily Volume 12,221.0 9,644.7 26.7% 14,672.8 9,764.8 50.3% Market Share � 30.0% � 27.9% � 2.1 pts � 29.1% � 28.1% � 1.0 pts Market Share: Customer 30.7% 29.5% 1.2 pts 30.5% 29.7% 0.8 pts Market Share: Firm 33.8% 24.1% 9.7 pts 30.8% 23.9% 6.9 pts Market Share: Market Maker � 28.2% � 27.8% � 0.4 pts � 27.4% � 28.2% � (0.8) pts � Equity Options Volume Statistics � Current Month � Year-to-Date (000s) � Feb-08 � Feb-07 � % Change � Feb-08 � Feb-07 � % Change ISE Average Daily Volume 3,611.1 � 2,642.3 � 36.7% 4,194.8 � 2,697.4 � 55.5% ISE Total Volume 72,221.2 50,204.0 43.9% 171,987.9 105,198.2 63.5% Industry Average Daily Volume 11,246.8 8,767.2 28.3% 13,510.8 8,938.0 51.2% Market Share � 32.1% � 30.1% � 2.0 pts � 31.1% � 30.2% � 0.9 pts Market Share: Customer 32.6% 32.0% 0.6 pts 32.5% 31.9% 0.6 pts Market Share: Firm 37.0% 26.2% 10.8 pts 33.5% 25.8% 7.7 pts Market Share: Market Maker � 30.2% � 29.9% � 0.3 pts � 29.1% � 30.2% � (1.1) pts � Index Options Volume Statistics � Current Month � Year-to-Date (000s) � Feb-08 � Feb-07 � % Change � Feb-08 � Feb-07 � % Change ISE Average Daily Volume 55.1 � 47.6 � 15.8% 71.3 � 42.8 � 66.6% ISE Total Volume 1,102.8 905.0 21.9% 2,925.1 1,669.8 75.2% Industry Average Daily Volume 956.6 876.2 9.2% 1,136.9 825.7 37.7% Market Share � 5.8% � 5.4% � 0.4 pts � 6.3% � 5.2% � 1.1 pts ISE�s market share statistics continue to be negatively impacted by trading strategies that are permitted based on a non-economic rationale. These strategies include dividend trades and synthetic short interest trades. These trades temporarily inflate and distort trading volume and market share when transacted. Monthly Highlights Options Exchange ISE was the largest U.S. equity options exchange in February. On February 21, 2008, ISE began trading options on two new ISE FX Options� currency pairs, the U.S. dollar/Australian dollar (Symbol: AUX) and the U.S. dollar/Swiss franc (Symbol: SFC). Timber Hill LLC serves as Primary Market Maker for these new products. On February 24, 2008, the Osaka Securities Exchange Co., Ltd. (OSE) and ISE announced that they signed a Memorandum of Agreement (MOA), in which the two exchanges agreed to build a cooperative relationship as the first step towards the formation of a joint venture and the launch of a new, jointly owned trading platform that promises to revitalize the Japanese equity options market. ISE traded more volume than any other options exchange in 1,134 of 1,891 issues in its listings. ISE Stock Exchange An average daily volume of 76.1 million shares traded on the ISE Stock Exchange in February 2008. The ISE Stock Exchange offers opportunities for price improvement through its non-displayed liquidity pool, MidPoint MatchSM. Total price improvement in February 2008 was $4.6 million, and price improvement for all displayed market taker orders that interacted with MidPoint Match was greater than $0.01 per share. 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 equity, ETF, index, and FX options. 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 and operated by Deutsche B�rse AG (Ticker: DB1) and SWX Swiss Exchange. Together, Eurex and ISE are the global market leader in individual equity and equity index derivatives. For more information, please visit www.ise.com. ISE FX OPTIONS is a registered trademark of International Securities Exchange, LLC.
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