http://phx.corporate-ir.net/phoenix.zhtml?c=176358&p=irol-newsArticle&ID=907356&highlight ISE Plans to List Foreign Currency Options; ISE FX Options(TM) Offer New Investment Strategy NEW YORK--(BUSINESS WIRE)--Sept. 20, 2006--The International Securities Exchange (NYSE: ISE) today announced its intent to create and list new foreign currency options, called ISE FX Options(TM). With ISE FX Options, retail and institutional investors will have a new investment strategy that allows them 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 in ISE FX Options to begin in the first quarter of 2007, pending regulatory approvals. David Krell, ISE's President and Chief Executive Officer, said, "We are pleased to expand the range of asset classes available to investors at ISE through the introduction of ISE FX Options. 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." ISE will initially list the following four currency pairs: USD/EUR, USD/GBP, USD/JPY, and USD/CAD. All ISE FX Options will have U.S. Dollar-based underlying values, which will be scaled as needed to create an underlying value similar to traditional equity or index options. For example, if the current USD/EUR rate is .7852, the underlying value for the USD/EUR ISE FX Option would be 78.52. This format will allow investors to easily adopt the trading strategies they currently use for equity and index options. All products will be cash-settled, which eliminates the need for investors to hold the actual foreign currency. ISE has signed an agreement with Reuters, a leader in the foreign exchange marketplace, to provide the underlying data for ISE FX Options. Reuters' dealing community is among the largest in the world, allowing it to provide ISE with comprehensive and accurate data to support ISE FX Options. ISE will offer a new type of market maker membership class for quoting in ISE FX Options. This membership will provide the opportunity for both existing ISE members as well as new firms to electronically trade ISE FX Options in a low-cost environment. Electronic Access Members (EAMs) will be able to trade this new innovative product using their current memberships. Interactive Brokers, currently a primary market maker on the ISE options exchange, will become a market maker in the new ISE FX Options product through its Timber Hill subsidiary. "As usual, ISE continues to further the advancement of electronic trading and Interactive Brokers fully supports these efforts. 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," said Steve Sanders, Managing Director for Business Development at Interactive Brokers.