A new options exchange operated by Deutsche Börse-owned International Securities Exchange (ISE) has breached the 2% market share mark in equity options on Tuesday, less than three weeks after launching.
ISE Gemini reached the milestone in addition to concluding its five-phase product rollout, which was initially due to complete in September.
According to its website, ISE Gemini offers trading in 2,094 options, across equity, index, currency and exchange-traded funds (ETF). The exchange went live on 5 August.
“Since ISE’s inception, one of our core values has been a dedication to growth through innovation and the record market share milestone is a testament to that,” said Boris Ilyevsky, managing director or ISE.
ISE Gemini offers maker-taker pricing and uses ISE’s pro-rate and customer priority market structure. It plans to expand the product offering in the future, as it attracts a greater number of market makers.
“The pricing structure, market model and listings plan we developed were meant to ensure a methodical introduction to ISE Gemini, and the extremely smooth rollout has surpassed our expectation. We are gratified that ISE Gemini continues to be well received and look forward to continued growth of our new exchange,” Ilyevsky said.
ISE Gemini’s parent company and sister US options exchange, ISE, was launched in 2000 as the first US options exchange with electronic trading.