ISE Introduces Spread Crawler

On Thursday, the International Securities Exchange (ISE) announced its partnership with MEB Options and the introduction of the Spread Crawler, a new tool that provides insight through Instant Messaging (IM) into real-time actionable spread orders.

According to ISE's press release, the product aggregates streaming spread book data from all options exchanges and transmits individual, user-defined spread orders to subscribers via IM. Spread Crawler simplifies live spread book feeds monitoring, while displaying spreads that satisfy customized pre-defined parameters.

Gary Katz, President and CEO of ISE said, “Our partnership with MEB Options represents the first step in expanding ISE’s product offerings to include a suite of unique trading tools and analytical capabilities. MEB has developed a simple but powerful user tool that supports this high-growth segment of the options market, and we are extremely gratified that they selected ISE as a partner to expand the reach of this compelling product offering.”

Michael Barry, President of MEB Options said, “By partnering with ISE, we are able to tap into their sales expertise, front-line user support and marketing reach. These resources will enable Spread Crawler to reach its absolute potential in user base, productivity and service."

In addition, Boris Ilyevsky, Managing Director of ISE’s options exchange explained, “As spread trading continues to grow as a percentage of industry volume, Spread Crawler will offer subscribers a straightforward way to digest the enormous amount of spread order data produced by the exchanges. Spread Crawler will give investors accurate data tailored to their custom-set parameters for particular symbols or industry sectors, minimum/maximum sizes, edge and specific expirations.”

Spread Crawler transmits messages through industry-standard IM programs including AOL, MSN, Bloomberg, and Yahoo. It is available to subscribers, including both ISE members and non-members, at the same fee* levels.

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Compiled by The Options Insider staff.