The International Securities Exchange Feb. 2 filed its SEC application...

The International Securities Exchange Feb. 2 filed its SEC application to become a national exchange, with the ISE on track to begin trading options electronically in the first quarter of next year. ISE officials expect the application to be approved later this year. It does not include any requests for special exemptions, according to an ISE statement. The cost of competing with the ISE was cited as one of the reasons why the Chicago Board Options Exchange recently pulled out of a planned merger with the Pacific Exchange.