ISE expands its suite of FX Options products with launch of new currency pair options on Brazilian Real now available

ISE expands its suite of FX Options products with launch of new currency pair options on Brazilian Real now available

20/01/10

The International Securities Exchange (ISE) today announced that it has expanded its ISE FX Options® portfolio with the launch of currency options on the Brazilian real (Symbol: BRB). Timber Hill is the Primary Market Maker for these new products, which began trading on January 19, 2010.

“We are very pleased to diversify our FX options product suite with the launch of our tenth currency pair,” said Kris Monaco, ISE’s Director of New Product Development. “Brazil is one of the most important emerging market economies in the world, and for the first time investors will be able to use their existing securities accounts to hedge their exposure to the Brazilian real by trading an exchange-listed, centrally cleared, cash-settled options product. As with all of our other FX Options products, investors will also be able to use complex order types including spreads up to four legs.”

ISE now lists FX options on ten currency pairs. The USD-based, or “per US$,” currency convention is available for all ten pairs and allows investors to express their views on the strength or weakness of the U.S. dollar relative to global currencies while adopting the trading strategies they currently use for equity and index options. The “in US$” currency convention, which is the inverse of the USD-based convention, is the traditional convention used in the FX spot market and is available on four currency pairs.

As exchange-listed securities, ISE FX Options are accessible through most major brokerage accounts that are approved for trading equity and index options. These products are cash-settled and have European style exercise. For more information, please visit www.ise.com/fx.