ISE Stock Exchange/Partnership With Direct Edge
The ISE Stock Exchange launched in September 2006 and is an electronic marketplace offering two primary capabilities on one platform: "MidPoint Match" and "Displayed Market". "MidPoint Match" is an exchange-based, non-displayed market. Members can use MidPoint Match to trade equities instantaneously at the exact midpoint price of the National Best Bid and Offer (NBBO). Displayed market is a fully electronic displayed market of the Best Bid and Offer trading the common stocks and ETFs listed on the NYSE, Nasdaq and Amex.
The ISE Stock Exchange became a wholly owned subsidiary of ECN Direct Edge in December 2008. ISE now holds ownership stake in the company. Direct Edge will continue with its efforts to submit two Form 1 applications to gain exchange status for the purpose of operating EDGA and EDGX as newly registered national securities exchanges. Until SEC approval of the two exchange licenses is granted, Direct Edge will utilize the ISE Stock Exchange for quotation display and tradethrough protection in the National Market System. During this period, the ISE Stock Exchange will continue to operate as a facility of ISE, LLC. ISE will also provide data center and regulatory services for Direct Edge exchange subsidiaries once they become part of the National Market System.
Read more about this topic: International Securities Exchange
Famous quotes containing the words stock, exchange, partnership, direct and/or edge:
“I met a Californian who would
Talk California—a state so blessed
He said, in climate, none had ever died there
A natural death, and Vigilance Committees
Had had to organize to stock the graveyards
And vindicate the state’s humanity.”
—Robert Frost (1874–1963)
“So long as the system of competition in the production and exchange of the means of life goes on, the degradation of the arts will go on; and if that system is to last for ever, then art is doomed, and will surely die; that is to say, civilization will die.”
—William Morris (1834–1896)
“Society is indeed a contract.... It is a partnership in all science; a partnership in all art; a partnership in every virtue, and in all perfection. As the ends of such a partnership cannot be obtained in many generations, it becomes a partnership not only between those who are living, but between those who are living, those who are dead, and those who are to be born.”
—Edmund Burke (1729–1797)
“Long as I have lived, and many blasphemers as I have heard and seen, I have never yet heard or witnessed any direct and conscious blasphemy or irreverence; but of indirect and habitual, enough. Where is the man who is guilty of direct and personal insolence to Him that made him?”
—Henry David Thoreau (1817–1862)
“The stroke of the whip maketh marks in the flesh: but the stroke of the tongue breaketh the bones. Many have fallen by the edge of the sword: but not so many as have fallen by the tongue.”
—Ecclesiasticus Apocrypha. Ecclesiasticus, 28:17-8.