Breaking News

Tag Archives: International Securities Exchange

The Patent World Blog,Feature,Investing & Trading

We’re back in court today. On Friday, Nasdaq filed suit against Miami International Holdings, the parent company of MIAX, the youngest of the U.S. options exchange groups. Nasdaq announced it had filed suit for patent infringement and theft of secret information by MIAX, which has hired a number of former Nasdaq and International Securities Exchange professionals. According to Bloomberg, the Nasdaq suit claims that “MIAX instead relied on or piggybacked off of the Nasdaq trade secrets and other technical know-how acquired by former Nasdaq employees during their tenure at Nasdaq.” Nasdaq is asking the court to force MIAX to stop…

“Cannot be done”: ISE’s Gary Katz Tells The Inside Story Of The Biggest Disruptor To The Options Industry Blog,Options

Gary Katz

It’s been quite a ride for almost 20 years for Gary Katz, now officially the former co-founder, president and CEO of the International Securities Exchange. Nasdaq closed the deal to buy ISE from Deutsche Boerse on June 30, ending one of the most pioneering and successful runs for an exchange in the history of financial markets. Co-founded in 1997 by Katz, David Krell, William Porter and Marty Averbuch, the group set out to create the first fully electronic US equity options exchange. The exchange launched in 2000, but the road was bumpy, funny and frustrating, even on good days. But…

How Investors Can Cash In On Bats Blog

In March 2005, the International Securities Exchange broke new ground as the first securities exchange in the US to go public. Now the markets await the next round of exchange IPOs, with Bats Global Markets coming April 14. Bats’ shareholders are expected to generate just over $200 million in the IPO with an offering price between $17 and $19 per share. The company is expected to end up with a market cap of $1.72 billion. It’s an interesting time for the exchange space, as exchange leaders jockey for the London Stock Exchange, as well as for geographic advantage. It’s also…

John Lothian Newsletter: Nasdaq to Buy International Securities Exchange; Here’s Why Fintech Companies Are Opting to Stay Private; Why Citadel opposes IEX’s stock exchange application John Lothian Newsletter,Newsletter

First Read The Curious (or Not So Curious) Case of Our Current Regulatory Environment Carl Gilmore, President, Integritas Financial Consulting In the old days on the exchange trading floors there used to be a saying – “No matter what you did the night before, you have to make the bell.” The clear implication being that a hangover was no excuse for not showing up and doing your job. In some ways the current regulatory environment is like a big hangover. It shouldn’t surprise anyone that after the credit crisis, MF Global, Peregrine, Lehman and Sentinel, etc. that the regulatory community…

Better Volatility: Scott Nations and ISE Look to Launch a Better Volatility Contract Interview,Video

There is a regular drum beat in the financial services arena about a “new asset class” or the “next asset class”, many of which really aren’t actually new. In recent years, volatility has checked most, if not all, of the boxes for a new asset class. The space has been dominated by the CBOE Volatility Index, better known as the VIX or “fear gauge.” But now a new volatility instrument has emerged, the VolDex, which teams Chicago-based options index firm NationsShares with the International Securities Exchange (ISE). Scott Nations, president and CIO of NationsShares, says his VolDex index, on which…

Exchange CEO Series – Big Crowd: ISE’s Gary Katz says crowded options field to get larger Interview,Regulation,Video

In the derivatives space, there has been a consolidation or a proliferation of exchanges, depending on how you see it. While the number of futures exchanges in the US has shrunk to two major players, International Securities Exchange president and CEO Gary Katz has seen the opposite happen in the US options marketplace. The number of US options exchanges is now 12, with ISE adding the latest options exchange called ISE Gemini last year. Some exchanges, such as ISE, now have two or more exchanges which they operate with different pricing and trading platforms. The goal to differentiate has spurred…

Options’ Glass is Half Full: Gary Katz Says Industry is Doing Well Interview,Options,Video

Gary Katz

Gary Katz, president and CEO of the International Securities Exchange (ISE), has seen the options markets change dramatically since he co-founded the all-electronic options exchange in  2000. His exchange launched ISE Gemini in August, representing the 12th US options exchange. Katz sat down with JLN editor-in-chief Jim Kharouf to talk about where the US equity options business is today, why almost flat volumes isn’t a bad thing, and how this industry can keep growing, even in a low volatility, low interest rate environment. WATCH: Gary Katz Says ISE Gemini Off to Fast Start. In the first three quarters of 2013, US…

Born Under a Good Sign: Gary Katz Says ISE Gemini Off to Fast Start Interview,Options,Tech / HFT,Video

Gary Katz

Gary Katz, president and CEO of the International Securities Exchange (ISE), has seen the options markets change dramatically since he co-founded the all-electronic options exchange in  2000. Now with the launch of ISE Gemini in August, the ISE is looking to add another exchange model that differs from the flagship exchange. Gemini also represents the 12th US options exchange. Katz sat down for this video interview with JLN editor-in-chief Jim Kharouf to talk about the new exchange, which garnered two percent marketshare of the total industry options volume in its first month. The exchange also rolled out the first 300…

John Lothian Newsletter: ISE Targets Launch for New Options Exchange; Firms will be shut out of OTC market at June US clearing deadline; Rules threaten global banks, reports say John Lothian Newsletter,Newsletter

The International Securities Exchange steps forward on the road to launch a second options exchange in the US. No word yet on whether this will turn into a national chain. Many smaller financial firms may find themselves unable to use OTC derivatives products in June, as new rules and costs may put clearing those trades out of reach. Two new reports suggest that the increasing weight of global regulation may cause investment banks to reduce or suspend operations as global entities.