ISE Price Improvement Mechanism (PIM) now accepts tied-to-stock orders

ISE Price Improvement Mechanism (PIM) now accepts tied-to-stock orders

22/09/2011

The International Securities Exchange (ISE) announced that multi-legged orders that include a stock component can now be entered into its Price Improvement Mechanism (PIM). ISE accepts multi-legged strategy orders of up to eight options legs plus a stock leg. These latest enhancements underscore the new OptimiseTM system’s capability to support a faster time-to-market for upgrades than ISE’s previous trading platform.

“With the new streamlined release cycle for Optimise, we will be able to deliver functionality and performance enhancements more quickly and seamlessly to our member firms,” said Boris Ilyevsky, Managing Director of ISE’s options exchange. “By upgrading PIM to now accept orders that include a stock component, we have further strengthened our industry-leading capabilities for trading multi-legged orders and are delivering yet another benefit of our new trading system.”

In addition to functionality changes, the latest Optimise release also delivered several performance enhancements to further improve the latency profile of the system. With Optimise, new releases are backward compatible, minimizing any technology changes required by member firms.

Multi-legged orders for PIM, like all other ISE crossing orders, can be entered via PrecISE Trade®, FIX and ISE’s Direct Trading Interface (DTI) application. For more information, contact ISE Business Development at bizdev@ise.com.