The International Securities Exchange (NYSE: ISE) says that MidPoint Match™ trading will begin this Friday, September 8, 2006. MidPoint Match will be the first product to debut on the ISE Stock Exchange. On September 1, the SEC approved the formation of the ISE Stock Exchange, clearing the way for this week’s launch. Trading hours for MidPoint Match will be from 9:30 am to 4:00 pm EST.
“We are excited to announce the imminent launch of trading on ISE Stock Exchange’s MidPoint Match,” says David Krell, ISE’s President and CEO. “Over the past several months, we have worked vigorously to connect our members to the ISE Stock Exchange platform and have conducted extensive testing of the platform’s speed and reliability to ensure preparedness for the launch. With SEC approval of the formation of the ISE Stock Exchange, we have completed the final step necessary in our rollout process and look forward to launching MidPoint Match this Friday.”
MidPoint Match is a continuous, instantaneous, fully-automated and anonymous platform that executes orders at the midpoint price of the National Best Bid and Offer (NBBO) throughout the trading day. Initial trading will be in the following ten stocks with additional names to be added regularly: Cisco Systems Inc. (CSCO); Ford Motor Co. (F); JDS Uniphase Corp. (JDSU); LSI Logic Corp (LSI); Lucent Technologies Inc (LU); NASDAQ-100 Trust (QQQQ); Quest Communications International Inc. (Q); RF Micro Devices Inc. (RFMD); Sun Microsystems Inc. (SUNW); and Semiconductor HOLDRs Trust (SMH).