International Securities Exchange (ISE)'s move to open a stock exchange with several equity partners has received a thumbs-up from industry participants. Meanwhile, the exchange last week reported record quarterly profits with very little cost from its stock exchange venture.
In its results announcement, ISE president and CEO, David Krell, suggested that further expansion was on the cards. He said that his exchange was "continuing dialogue with potential overseas partners as part of our goal to establish an overseas presence," although he did not elaborate on specifics.
The exchange reported a 40.1% increase in net income in the quarter, to $12.4m, on the back of a 37.6% increase in trading volume and 28.9% increase in revenue.
ISE announced plans to launch ISE Stock Exchange (ISESE) with a new trading engine, MidPoint Match, in the third quarter (see...