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ISE Beats Estimates

The options market reports a 66% profit gain.

Profit soared 66% at the

International Securities Exchange

(ISE)

, while revenue and earnings beat estimates because of strong trading volume and increased member fees.

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The ISE made $13.9 million, or 35 cents a share in the third quarter, compared with $8.4 million, or 22 cents a share, in the year-earlier period. Revenue rose 30.3%, to $50.1 million from strong trading volume and increased member fees, it says.

Analysts were predicting the six-year-old equity options exchange to earn 31 cents a share on $45.5 million of revenue.

The average daily volume of equity and index options contracts rose 29.7%, to 2.2 million contracts per day, compared with 1.7 million contracts a year ago.

The ISE has been developing initiatives to expand beyond its core business of options trading. In September, it launched the ISE Stock Exchange for equities.