As of June 30th, Nasdaq completed its acquisition of the International Securities Exchange (ISE) from Deutsche Börse Group, including three electronic options exchanges – ISE, ISE Gemini and ISE Mercury, as well as PrecISE Trade®, ETF Ventures and Longitude. The addition of ISE will improve efficiencies, expand technology & opportunities to innovate within the equity options industry.

System Migration

In order to best serve our clients, the ISE trading systems will be migrated to Nasdaq’s INET technology in late Q1 2017. While Nasdaq will strive to limit the impact of this migration, certain changes will be introduced, including the introduction of SQF and CTI to the ISE markets.

• SQF is the bulk-quoting API utilized by PHLX, NOM, and BX Options today.
• CTI is a real-time clearing interface providing subscribers their clearing trades with granular execution level details.

More details on the migration plan as well as architecture, connectivity, market data feeds, and trading system functional changes will be provided in the coming months.

PrecISE Trade is expected to remain on its current technology.

Data Center Impact

As part of the migration process and re-platforming of the ISE trading systems to the INET architecture, the ISE exchanges will operate out of the Carteret data center.

Frequently Asked Questions

If you have additional questions, please view the ISE FAQ on the ISE migration page or contact our Market Operations team. The FAQ will continue to be updated as details relating to the integration and re-platform become available.