The International Securities Exchange (ISE) has reported that in December 2007, the ISE Stock Exchange traded an average daily volume of 40 million shares, up from less than 10 million shares in the second quarter of last year ISE’s options exchange traded an average daily volume of 3.1 million contracts in the same period.
This report follows the firm’s announcement that it has changed the pricing structure on the ISE Stock Exchange. Effective since 2 January, 2008, the exchange has increased its market maker rebate to $0.0032 per share and embedded quote and trade revenue rebates into its liquidity provider rebate for displayed market executions.
ISE has also increased the maker rebate for ‘order delivery’ customers to $0.0027/share.
Currently, the ISE Stock Exchange rebates 50 percent of its quote and trade sharing revenues quarterly to all members responsible for making markets. The new pricing structure will enable members to receive these revenues on a monthly basis as part of their regular maker rebates, according to the firm.