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ISE surges over 50% in NYSE debut
Largest U.S. options exchange prices IPO at top end of expectations.
March 9, 2005: 12:49 PM EST

NEW YORK (Reuters) - Shares of International Securities Exchange Inc. soared more than 53 percent to $27.60 in its market debut on the New York Stock Exchange Wednesday.

The New York City-based options exchange, which priced an initial public offering at the top end of expectations on Tuesday, opened for business in 2000.

Since opening, it has established itself as a dominant force in options trading, and has become the largest U.S. options market with a 31 percent market share.

The International Securities Exchange (up $2.50 to $28.25, Research) is part of a growing trend among exchanges seeking to become publicly-traded. The Chicago Mercantile Exchange, which debuted in late 2002 below $40 a share, has seen its stock soar as high as $229.67, hit back in December.

The New York Stock Exchange is currently deliberating on a plan to become a for-profit institution -- a step that some market observers see as the springboard to an eventual IPO of its own.  Top of page


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