The International Securities Exchange (ISE) is to create and list new foreign currency options, called ISE FX Options.
With ISE FX Options, retail and institutional investors will be able to express their views on the strength or weakness of the U.S. Dollar relative to foreign currencies. Similar to existing equity and index options products, these securities will trade in U.S. Dollars and will be readily available through traditional securities brokerage accounts. ISE expects trading to begin in the first quarter of 2007, pending regulatory approvals.
“We are pleased to expand the range of asset classes available to investors at ISE through the introduction of ISE FX Options,” says David Krell, the President and Chief Executive Officer of ISE. “This innovative new offering furthers our goal to create differentiated products that are tailored to meet marketplace demand and that support smarter, more efficient trading.”
“As usual, ISE continues to further the advancement of electronic trading and Interactive Brokers fully supports these efforts,” adds Steve Sanders, the Managing Director for Business Development at Interactive Brokers. “The new cash-settled currency options are a first for listed electronic trading, and will be welcomed as a complementary product for those traders who already trade the cash and futures forex markets electronically.”