ISE launched trading as the first all-electronic options exchange in the U.S. on May 26, 2000, and revolutionized the industry by introducing low fees, transparent markets, and an innovative new market structure. The efficiency and transparency that ISE introduced, combined with its commitment to investor education, helped modernize the options industry. A decade later, options products are an accessible, mainstream investment vehicle that retail and institutional investors can use to hedge risk and enhance returns in their investment portfolios.
ISE would like to express our appreciation to all of our members, employees, Board members and owners who have made this achievement possible. We are very proud of all of the accomplishments that ISE has been able to achieve with their support over the past decade, but most importantly, we believe that ISE’s 10th anniversary is really about the future. As we think about the past 10 years, we are most excited about the fact that ISE has built a solid foundation that will allow us to meet the evolving needs of our member community as the U.S. options market becomes increasingly competitive in the next decade, and beyond. This is truly a celebration of a past, present and future that is bright with options. In this anniversary edition of Circuits, we have included the following special features related to ISE’s 10 year milestone.
• Interview with Boris Ilyevsky, Managing Director of ISE’s Options Exchange
Boris Ilyevsky has been a part of the ISE family since 1999. In this interview, Boris reflects on his experiences at ISE over the last decade.
• What does ISE’s anniversary mean to ISE’s employees?
Circuits asked ISE employees to share what the 10th anniversary means to them. A few of their responses are included in this issue.
• Ten in Twenty-Ten Update
An update on ISE’s Corporate Social Responsibility initiative, Ten in Twenty-Ten.
ISE’s employees reflect on the 10th anniversary
ISE’s employees were asked to reflect on what the 10th anniversary means to them. We received several moving responses that reflected pride and a sense of ownership in ISE’s accomplishments. We are very excited to share just a few of these submissions.
Joe Maresca
Senior Manager Client Connectivity, Technology Member Services
Start Date:
May 10, 2000
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ISE’s 10 year anniversary marks another great milestone in ISE’s history. As an employee of ISE for 10+ years, I recall my early days at ISE of working long hours, weekends and holidays to bring the datacenters and trading system online the first time. There was much speculation in the industry whether or not ISE would succeed. So 10 years later it is rewarding to see that the ISE has earned the respect of the street and that the vision David and Gary saw 10+ years ago has succeeded.
There have been some memorable and not so memorable times at ISE, such as our first installation of equipment at a member site, ISE’s first trade, the horrific terrorist attack on the World Trade Center, expansion of ISE from two floors to five floors, expansion of a second datacenter within 60 Broad, to name a few. I have seen colleagues and friends come and go, others pass away. I have learned a lot from the ISE and the group of people who have been my colleagues.
I have had the pleasure to work/manage directly in three groups at ISE (Network Ops, Network Planning & Support and Technology Member Services) and have learned a great deal working at ISE. How fitting that on the year of the ISE anniversary we are launching two new datacenters and a new trading system. I am very happy to be a core part of this project and to see the rebirth of the ISE on a much grander scale. |
Christine Malia
Associate Project Manager, CAPM
Start Date:
June 6, 2005
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ISE’s 10th anniversary means that I have been with the company for 5 years – half the life of ISE. Time sure flies!
On my first day at ISE as an intern, June 6, 2005, I met and shook hands with David Krell, our CEO at the time. I was taking a tour of ISE, and I met him in the pantry on the 26th floor. He had his suit jacket off and he was carrying his ISE coffee mug. He welcomed me aboard and wished me luck. From that moment on, I knew that ISE was a completely different kind of company – the kind where you can run into the CEO anytime and he will remember your name and what you do. That experience was only one of the many reasons why I wanted to one day become an employee of ISE, and I did two years later.
I was sitting on the train the other day thinking how much has changed in the past 5 years; I never could have imagined that I would still be fortunate enough to be with this company, and I am truly thankful. I have learned a lot in my time here and have grown tremendously because of the brilliant people that work here, who are so down-to-earth and so willing to share their experiences and teach newcomers like me.
I also thought about what the next 5 years will look like, and I don’t know what’s next, but I certainly hope that I am still along for the ride. |
Bruce Cooperman
Chief Financial Officer
Start date:
February 7, 1999
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It all started for me at 110 Wall Street. I remember my first meeting with David and Gary and felt the drive and passion they had to get ISE up and running. The pull of their excitement was so great that in spite of a five month old daughter and a six month old mortgage, I went all in. The intervening 11 years have been the most professionally rewarding time of my life.
The tenth anniversary is a result of the drive and passion that has filled ISE and each of its employees; it is a symbol of dedication and perseverance. Without a doubt, my favorite experience at ISE was March 9, 2005, when many of us were at the NYSE witnessing the shares of ISE trading for the first time. |
10th Anniversary Feature
Update on Ten in Twenty-Ten
To commemorate ISE’s 10th anniversary, we are organizing ten different activities and events throughout 2010 to benefit the families that are staying at the Ronald McDonald House New York while their child undergoes active treatment for pediatric cancer. Our Ten in Twenty-Ten program is off to a great start, and we are excited to share the below update on our activities to date.
- Donation to Ronald McDonald House New York on Behalf of the Options Industry
ISE organized the 28th Annual Options Industry Conference which took place from April 29 – May 1, 2010. We are proud to announce that the profits from this year’s Options Industry Conference will be donated to Ronald McDonald House New York on behalf of the entire options industry. As a result of the industry’s commitment to the Options Industry Conference, we can collectively make a difference in the lives of these children, and it is our privilege to do so.
ISE sponsored a table at Ronald McDonald House New York’s Eighteenth Annual Gala fundraiser on May 17, 2010. Ronald McDonald House New York can accommodate 84 families, and is the largest facility of its type in the world. Although it costs Ronald McDonald House approximately $270 per night per family to run the facility, they ask families to make a donation of only $35 per night. The House depends on the generosity of donors to cover the remainder of expenses, and the Annual Gala is one of their most important fundraisers for the year.
ISE held a Ronald McDonald House New York Wish List Drive at its 10th anniversary member event on May 24. ISE is also holding a Wish List Drive for employees that will run through June. The House Wish List includes every day essentials for the families staying at the house.
- “Jeans in June” Fundraiser
ISE is holding a “Jeans in June” fundraiser to raise money to send the families staying at Ronald McDonald House on a trip to Six Flags Great Adventure. ISE employees can donate money to wear jeans every Friday in June. All proceeds will fund the House trip.
- House Dinner and Evening Activity
On June 29, 2010, ISE will be catering dinner and volunteers will participate in an after-dinner cookie decorating party with the children and families staying at the House.
To learn more about Ronald McDonald House New York, visit www.rmdh.org.
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