Options

PrecISE®

PrecISE Trade® is ISE and ISE Gemini's award winning front-end execution and order management system for trading options and stock-option combinations. 

Overview
PrecISE Supports
  • Simple and Complex Strategy order types
    • Complex up to 8 option components + one stock component
  • Crossing for Simple and Complex Orders
  • Buy-Write and Delta Neutral
  • Away Market Routing to target liquidity away from ISE and ISE Gemini
  • Simple and Complex Order Management:
    • OMS Functionality – See related Order Management Functionality Page
    • Reserve Orders
    • Post-entry Order Activation
  • Electronic, direct post-trade allocation
  • Risk Administrator User Type with real-time adjustable Risk Settings:
    • Max order quantity
    • Max day quantity
    • Max order notional value
    • Max day notional value
    • Reject pre-open orders
    • Restricted products list
    • Short Locate Code Required
  • Kill Switch with immediate impact upon activation:
    • Blocks order entry-related requests
    • Deletes open orders
    • PrecISE can be used to activate Kill Switch for PrecISE, FIX, or DTI business unit(s).
  • 'Done-Away' Order Management
    • Electronic order and execution management, regardless of execution method or destination
    • Consolidated order management in a single platform
    • Efficient order management when used in conjunction with Parent/Child and PrecISE to PrecISE routing functionality
    • A comprehensive audit trail reflected in the PrecISE Order History Report for compliance and records
PrecISE Market Data
  • ISE and ISE Gemini BBO
  • ISE Market Depth including Customer Quantity
  • NBBO and Each Exchange BBO for all other exchanges
  • NYSE & NASDAQ underlying data
  • ISE's Spread Orderbook
  • Real Time Greeks including Delta, Volatility, Gamma, Vega, Theta & Rho
PrecISE Advantages
  • User-friendly, customizable interface
  • Supports Member-managed pre-trade risk parameters
  • Allows for consolidated access to order and trade activity for multiple desks, business units and/or sponsored customers using PrecISE as well as FIX and API applications
  • Supports all ISE and ISE Gemini's Exchange functionality
  • Connects via internet or direct connection

Combined Marketorder Border 

Market and Order Display Status

Complex Order Book
Complex Order Book

 

About Away Market Routing

PrecISE Trade also features Away Market Routing (AMR). Traders can easily route regular orders to all options markets and complex orders to those with complex order books from a single workstation.

Including:

  • AMEX
  • ARCA
  • BATS
  • BOX
  • BX Options
  • C2
  • CBOE
  • MIAX
  • NOM
  • PHLX

Order types supported:

  • Day
  • Day AON
  • FOK
  • IOC
  • ISO Clear
  • ISO No ISE
  • NBBO Sweep
  • Sweep & Cross

AMR Order Ticket

AMR Order Ticket

Sweep & Cross

Sweep Cross

Sweep & Cross automatically sends orders to execute against the displayed top of book on all exchanges priced better than the entered cross price, and executes the remainder on the ISE or ISE Gemini as a facilitation order. Sweep & Cross adheres to all inter-market linkage rules related to execution of large crosses.


Pricing

Additional Away Market Routing charges are billed on your ISE or ISE Gemini monthly statement.

Away Market RoutingFee*
AMR Fee $0.03
Post-trade clearing changes $0.05

*Per contract. Applicable Exchange fees apply.

How to Sign Up
PrecISE

PrecISE connects to ISE and ISE Gemini via the Internet using SSL security, or through a dedicated line.

All PrecISE users must read and complete a Software License Agreement.

To use PrecISE on ISE Gemini, please read and complete the Amendment to Software License Agreement.

In addition, if you are connecting to PrecISE via the Internet, please read and complete the Internet Addendum.

Please return the above documents to:
Ronan Cahill
International Securities Exchange
60 Broad Street
New York, NY 10004
rcahill@ise.com
Fax: (212) 425-4926

Away Market Routing

To sign up for Away Market Routing, please read and fill out the following forms:


A copy of your firm's most recent Focus Report and Audited Financials along with the completed documents should be returned to:
Geralyn Endo
International Securities Exchange
60 Broad Street
New York, NY 10004
gendo@ise.com
Phone: (212) 897-8171
Fax: (212) 425-4926

Order Management Functionality

Order management features are available:

  • Route orders from PrecISE user to PrecISE user for execution. Trades are automatically reported back to the originating PrecISE user.
  • Stage larger orders and divide them into smaller orders (parent/child) for more controlled order management and execution.
  • 'Done-Away' Order Management
    • Electronic order and execution management, regardless of execution method or destination
    • Consolidated order management in a single platform
    • Efficient order management when used in conjunction with Parent/Child and PrecISE to PrecISE routing functionality
    • A comprehensive audit trail reflected in the PrecISE Order History Report for compliance and records

Precise1

To enable new PrecISE order management features, please complete a Member Change Request Form and email it to precise@ise.com.

Contact Us

For more information about PrecISE, please contact precise@ise.com.
Phone: 212-897-8171