Q4 2005 International Securities Exchange Earnings Release - Final.

Original Source: FD (FAIR DISCLOSURE) WIRE

OPERATOR: Good day ladies and gentlemen and welcome to the fourth quarter 2005 International Securities Exchange Earnings Conference Call. [OPERATOR INSTRUCTIONS]

I would now like to turn the presentation over to your host for today's call Mr. Tom Gibbons, Investor Relations Officer. Please proceed, sir.

TOM GIBBONS, INVESTOR RELATIONS OFFICER, INTERNATIONAL SECURITIES EXCHANGE, INC.: Good morning everyone and welcome to ISE's fourth quarter conference call. As you know, we issued our earning release this morning and for those of you who do not have a copy you can download one from the investor relations section of our website at www.ise.options.com. We've also included a PowerPoint presentation on the site which we'll refer to during the call.

Joining us on the call today are David Krell, President and CEO; Gary Katz, Chief Operating Officer; Bruce Cooperman, Chief Financial Officer; and Mike Simon, General Counsel and Chief Regulatory Officer.

David will begin the discussion with a brief overview of the highlights for the quarter and the year and then review our business strategy for 2006. After David is through, Bruce will take you through the financial results. We'll then turn it back to David to summarize and then open it up to Q&A. Gary and Mike will be available for the Q&A session if you have any questions.

Before we begin the discussion, I want to inform you that our comments this morning may contain forward-looking statements which are subject to various risks and uncertainties as outlined in the Company's filings with the SEC and which are available on our website. Actual results may differ materially from those that are expressed or anticipated in any forward-looking statement. We'll also discuss non-GAAP results that exclude certain non-operating charges that we incurred in connection with our reorganization into a holding company as well as expenses related to our preparation for our secondary offering. The reconciliation of non-GAAP results to GAAP results appear in our press release.