ISE introduces ISEspreads function
The International Securities Exchange (ISE), the second biggest options exchange in the US, has implemented ISEspreads, a new trading system function that automatically executes complex options orders.
ISEspreads builds upon the existing spread trading function, which enables complex orders to be executed against the spread book, by enabling spread orders to be executed against a much larger liquidity pool, which, it claims, should increase reduce order-execution time.
ISE's market quotes are available to provide trade executions on multi-legged trades. For example, the technology that supports ISEspreads enables a customer who is selling a call option and buying another call option to sweep the order book and the spread book. If the order book matches the incoming spread trade, ISEspreads automatically executes the trade.
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