ADVISORY/International Securities Exchange Approved By SEC.Business Editors ADVISORY... --(BUSINESS WIRE)--Feb. 25, 2000 TOPIC: The International Securities Exchange, an electronic options exchange, was approved by the Securities and Exchange Commission on Thursday, CNNfn.com reported. The ISE Ise (ē`sā), city (1990 pop. 104,164), Mie prefecture, S Honshu, Japan, on Ise Bay. It is one of the foremost religious centers of Shinto, the site of the shrines of Ise. plans to trade options on 600 companies. Though the exchange was only just approved, the ISE has already stepped up competition among options exchanges. The increased competition has reportedly been beneficial, as it has led the four existing exchanges to list many options which used to trade only on one exchange. Since the ISE filed with the SEC, spreads have been shrinking and transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). sliding. A new options exchange has not been created in the U.S. since 1973. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Alan Suslow, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Mr. Stock, Inc., is an expert in systems development for options exchanges and ISE issues. 415-538-8660, damon@paiz.com Professor Jaksa Cvitanic, Columbia University Columbia University, mainly in New York City; founded 1754 as King's College by grant of King George II; first college in New York City, fifth oldest in the United States; one of the eight Ivy League institutions. , is an expert in options pricing and hedging. 212/854-2262, 212/854-1754 Professor Hun Park, University of Illinois at Urbana-Champaign Early years: 1867-1880 The Morrill Act of 1862 granted each state in the United States a portion of land on which to establish a major public state university, one which could teach agriculture, mechanic arts, and military training, "without excluding other scientific , is an expert in derivative securities, options and international finance. 217-333-0659, 217-333-INFO Professor Deborah Hale Streeter, Cornell University Cornell University, mainly at Ithaca, N.Y.; with land-grant, state, and private support; coeducational; chartered 1865, opened 1868. It was named for Ezra Cornell, who donated $500,000 and a tract of land. With the help of state senator Andrew D. , is an expert in options trading and information technology. 607-255-1611, 607-255-5023 Stephen Schulte, a securities lawyer with Schulte, Roth & Zabel GCI GCI Ground Circuit Interrupter GCI Getty Conservation Institute GCI Global Commerce Initiative GCI Green Cross International (non-profit international environmental organization) GCI Growth Competitiveness Index GCI Great Cities Institute Group, has expertise in securities law and the Securities and Exchange Commission. 212-756-2000, stephen.schulte@srz.com, agillies@gcigroup.com ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource, a collaboration of Business Wire and The Round Table Group, provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/expertsource. Business Wire's Media Resource Center provides working journalists many free media services. Please visit the BW Media Resource Center at (www.businesswire.com/media) for more information. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion