The International Securities Exchange (ISE), the US electronic options exchange, has signed a licensing agreement to list options on nine select sector Standard & Poor's Depositary Receipts (SPDR) exchange-traded funds.

An SPDR is a unit investment trust that holds shares of all of the companies in the Standard & Poor's 500 Composite Stock Price Index. SPDRs closely track the price performance and dividend yield of the S&P 500. Other SPDRs represent other indexes or particular industry groups.