Members can use any of four methods to provide telecommunication access into ISE. Members that use a service bureau to provide a FIX interface to ISE are also connected to ISE at the telecommunication level by the service bureau that provides the FIX interface. Members that do not use a service bureau can use either a Managed Service Provider, dedicated leased lines, or ISE’s private MCI network for telecommunication access to ISE. ISE can order connectivity for member firms on our private MCI network. Circuits may be ordered in parallel with the membership application and approval process.
FIX
The Financial Information Exchange (FIX) protocol is an open message standard that supports the real-time electronic transmission of securities transactions. ISE offers a FIX 4.2-compliant order routing interface over TCP/IP. A member can use the FIX protocol to access ISE through either vendor-provided software, one of a number of order-routing service bureaus or their own proprietary interface application. Members using their own FIX interface applications connect directly to ISE’s Order Routing System (IORS). For the Options Exchange, you can download a copy of our FIX Order Routing manual.
API
ISE’s Options Open Interface API allows members to reduce transaction processing times by connecting directly to ISE's core processing engines thereby eliminating the FIX message translation processing step. All applications developed to interact with ISE’s OTS API must be certified by ISE. A number of third-party API developers have written customized applications to ISE’s Options Exchange API for use by ISE Options Exchange participants. Members can also develop their own proprietary API interfaces.
PrecISE
ISE’s PrecISE Trade® is a fast and innovative front-end application for trading options and stock-option combinations. PrecISE provides traders with the ability to submit, monitor, alter and cancel orders; display the BBO of options at both the ISE and the NBBO; and route orders to all options exchanges via Execution Brokers. PrecISE is installed on the trader’s PC and connects to servers at ISE via the Internet using SSL security, or through a dedicated line.
ISE's approach has always been to offer our members a variety of connectivity options to meet their particular trading needs. As speed and execution times are becoming more and more critical, we have expanded our connectivity options to include colocation services that will provide extremely low-latency connectivity alternatives. |
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