ISE's options bonanza lures too many rivals; Market trailblazer hurt by success as others circle the business.(In the Markets)

From: Crain's New York Business | Date: October 30, 2006 | Copyright information

Byline: Aaron Elstein

In just nine years, International Securities Exchange Holdings Inc. has graduated from obscure startup to the nation's leading options marketplace.

By offering fast trading over sophisticated computer networks, the Manhattan-based firm has been instrumental in transforming the options business. Earnings and sales soared as ISE seized a one-third share of trading, and its stock price has nearly tripled since the firm went public last year, closing Friday at $51.55.

Sadly, no good idea on Wall Street lasts long before being beaten into the ground. ...

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