International Securities Exchange Holdings (ISE) announced today that U.S. Securities and Exchange Administration (SEC) has published for comment the Form 1 application for ISE Mercury.? ISE Mercury is anticipated to be launched in Q1 2016.
Boris Ilyevsky, Managing Director of ISE’s options exchanges made the following statement:?
“We are grateful that the SEC has published the Form 1 application, an important step forward that brings ISE Mercury closer to launch. With ISE Mercury, we will be able to extend our reach to a different segment of the options market, and deliver value to our membership, by providing a comprehensive offering comprising three options exchanges using the same innovative market model and reliable technology platform.”?
In addition it was noted that ISE Mercury will use a different fee model than ISE Holdings? existing exchanges, focusing on a payment for order flow/rebate-driven structure.