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<title>Prepared By R.R. Donnelley Financial -- Form 8-K</title>
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<b>UNITED STATES </b></font></div>

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<b>SECURITIES AND EXCHANGE COMMISSION </b></font></div>

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<b>Washington, D.C. 20549 </b></font></div>

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<b>Form 8-K </b></font></div> <div><font Size="1">&nbsp;</font></div>

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<b>Current Report </b></font></div>

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<b>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 </b></font></div>

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<b>Date of Report (Date of earliest event reported):&nbsp;&nbsp;01/31/2006 </b></font></div>




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<b>International Securities Exchange, Inc. </b></font></div>

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<b>(Exact name of registrant as specified in its charter)</b></font></div>

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<b>Commission File Number:&nbsp;&nbsp;333-117145</b></font></div>

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<div Align="center"><font Face="times New Roman" Size="3" Color="#000000"><b>Delaware</b></font>
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<b>(State or other jurisdiction of</b></font>
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<div Align="center"><font Face="times New Roman" Size="2" Color="#000000"><b>(IRS Employer</b></font>
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<b>incorporation)</b></font>
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<b>Identification No.)</b></font>
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<b>60 Broad Street, New York, NY 10004</b></font></div>


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<b>(Address of principal executive offices, including zip code)</b></font>
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<b>212-943-2400 </b></font>
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<b>(Registrant&#146;s telephone number, including area code)</b></font>
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<b> </b></font>
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<b>(Former name or former address, if changed since last report) </b></font>
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<b>Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<BR><BR>
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<b>[&nbsp;&nbsp;]&nbsp;&nbsp;
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>

[&nbsp;&nbsp;]&nbsp;&nbsp;
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>


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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>


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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Information to be included in the report</b>
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<b>Item 2.02.&nbsp;&nbsp;&nbsp;&nbsp;Results of Operations and Financial Condition</b></font>
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On Janaury 31, 2006, the Registrant announced its results of operations for the full year and fourth quarter ended December 31, 2005.  A copy of the related press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.<p>The information contained herein is furnished pursuant to Item 2.02 of the Current Report on Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless the Registrant specifically incorporates it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.<p>The Registrant is making reference to non-GAAP financial information in both the press release and conference call.  A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached presss release.</font>
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<b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits</b></font>
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(a) Not applicable.<p>(b) Not applicable.<p>(c) Exhibits:<p>99.1 Press Release dated January 31, 2006, announcing financial results for the full year and fourth quarter ended December 31, 2005.</font>
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<b>Signature(s) </b></font>
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Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized. </font>
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	International Securities Exchange, Inc.</font>
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	Date: January 31, 2006</font>
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	By:</font>
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	/s/&nbsp;&nbsp;&nbsp;&nbsp;Michael J. Simon</font>
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	Michael J. Simon</font>
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	<div><font Face="times New Roman" Size="2" Color="#000000">General Counsel, Chief Regulatory Officer and Secretary</font>
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<b>Exhibit Index </b></font>
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	<b>Exhibit&nbsp;No.</b></font>
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	<b>Description</b></font>
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	EX-99.1</font>
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	Press release dated Janury 31, 2006, announcing financial results for the full year and fourth quarter ended December 31, 2005.</font>
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Prepared By R.R. Donnelley Financial -- Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):  01/31/2006
International Securities Exchange, Inc.
(Exact name of registrant as specified in its charter)
Commission File Number:  333-117145
Delaware
01-0681729
(State or other jurisdiction of
(IRS Employer
incorporation)
Identification No.)
60 Broad Street, New York, NY 10004
(Address of principal executive offices, including zip code)
212-943-2400
(Registrant's telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]  
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Information to be included in the report
Item 2.02.    Results of Operations and Financial Condition
On Janaury 31, 2006, the Registrant announced its results of operations for the full year and fourth quarter ended December 31, 2005.  A copy of the related press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained herein is furnished pursuant to Item 2.02 of the Current Report on Form 8-K and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section, unless the Registrant specifically incorporates it by reference in a document filed under the Securities Act of 1933 or the Securities Exchange Act of 1934.
The Registrant is making reference to non-GAAP financial information in both the press release and conference call.  A reconciliation of these non-GAAP financial measures to the comparable GAAP financial measures is contained in the attached presss release.
Item 9.01.    Financial Statements and Exhibits
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
99.1 Press Release dated January 31, 2006, announcing financial results for the full year and fourth quarter ended December 31, 2005.
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
International Securities Exchange, Inc.
Date: January 31, 2006
By:
/s/    Michael J. Simon
Michael J. Simon
General Counsel, Chief Regulatory Officer and Secretary
Exhibit Index
Exhibit No.
Description
EX-99.1
Press release dated Janury 31, 2006, announcing financial results for the full year and fourth quarter ended December 31, 2005.