ISE introduces ISEspreads function

ISEspreads allows ISE members to automatically execute multiple part trades, such as spreads, straddles, strangles and butterflies, against the combination order book and against bids and offers posted in ISE's regular order book.

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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