In AMEX-listed equity securities, ArcaEx's total trading market share was 32.0% in February 2006, up from 24.8% in February 2005 and up from 31.0% in January 2006. ArcaEx's ETF total monthly share volume showed continued year-over-year growth with 2,481.2 (millions of shares) having traded in February 2006 compared to 1,411.2 (millions of shares) traded in February 2005 and down from 2,662.3 (millions of shares) in January 2006.
In Nasdaq-listed equity securities, ArcaEx's total trading market share was 23.2% in February 2006 down from 24.0% in February 2005 and up from 22.5% in January 2006.
In equity option contracts, the PCX's total trading market share was 10.6% in February 2006 down from 11.8% in February 2005 and down from 12.4% in January 2006.
During the month there were 31 new equity options listed for trading on PCX.
ArcaEx Transaction Volume Data
February January February
2006 2006 2005
Total monthly volume of Nasdaq-listed
equity securities (millions of shares) 38,501.5 43,671.4 37,372.3
ArcaEx monthly volume of Nasdaq-listed
equity securities (millions of
shares) (1) 8,919.2 9,838.4 8,986.4
ArcaEx share of total monthly volume
of Nasdaq-listed equity securities
(%)(2) 23.2 % 22.5 % 24.0 %
Total monthly volume of NYSE-listed
equity securities (millions of shares) 45,273.2 51,920.5 37,824.2
ArcaEx monthly volume of NYSE-listed
equity securities (millions of
shares)(1) 2,273.1 2,608.5 865.9
ArcaEx share of total monthly volume
of NYSE-listed equity securities (%)(2) 5.0 % 5.0 % 2.3 %
Total monthly volume of AMEX-listed
equity securities (millions of shares) 6,301.1 6,864.7 4,570.9
ArcaEx monthly volume of AMEX-listed
equity securities (millions of
shares) (1) 2,017.7 2,131.3 1,135.1
ArcaEx share of total monthly volume
of AMEX-listed equity securities (%)(2) 32.0 % 31.0 % 24.8 %
ArcaEx ETF total monthly share volume
(millions of shares)(1) 2,481.2 2,662.3 1,411.2
ArcaEx monthly customer order volume
matched internally (%)(3) 89.4 % 89.3 % 88.2 %
ArcaEx monthly customer order volume
routed out (%)(3) 10.6 % 10.7 % 11.8 %
Number of trading days in period 19 20 19
ArcaEx Most Active February 2006
Symbol Share Volume Market Share
Nasdaq-100 Index(R) (QQQQ) 499,242,126 30.3 %
SPDR(R) (SPY) 383,867,060 33.5 %
Intel(R) (INTC) 312,331,279 19.6 %
Cisco(R) Systems (CSCO) 273,782,042 20.5 %
iShares(R) Russell 2000 Index (IWM) 265,387,228 42.1 %
Energy Select SPDR (XLE) 258,560,699 46.6 %
Sirius Satellite Radio Inc. (SIRI) 216,379,806 20.1 %
Apple Computer Inc (AAPL) 209,254,813 31.2 %
Microsoft(R) (MSFT) 198,643,195 18.9 %
iShares(R) MSCI Japan Index (EWJ) 183,442,338 38.4 %
PCX Equity Option Transaction Volume Data
February January February
2006 2006 2005
Total consolidated monthly equity option
contract volume (millions of contracts) 131.1 164.8 97.5
PCX monthly equity option contract
volume (millions of contracts) (4) 13.9 20.4 11.5
PCX share of total monthly equity option
contract volume (%) (4) 10.6 % 12.4 % 11.8 %
New Equity Options Listed for Trading on PCX
Company (Symbol) Lead Market Maker (LMM)
ABB Ltd. - S.A. (ABB) Citigroup Derivatives Markets, Inc
Agere Systems, Inc. (AGR) Group One Trading, LP
Arena Resources, Inc. (ARD) PEAK6 Capital Management, LLC
AVI BioPharma, Inc. (AVII) Cutler Group, LP
Cell Genesys, Inc. (CEGE) Wolverine Trading, LLC
Chipotle Mexican Grill, Inc.
- Class A (CMG) Cutler Group, LP
Conpania de Minas Buenaventura
- S.A. (BVN) Group One Trading, LP
Consumer Discretionary Select
Sector Index Fund (XLY) Group One Trading, LP
Chiron Corp. (CHIR) Cutler Group, LP
Genta, Inc. (GNTA) Cutler Group, LP
GigaMedia Ltd. (GIGM) Cutler Group, LP
GlobeTel Comm Corp. (GTE) Cutler Group, LP
HealthExtras, Inc. (HLEX) Citadel Derivatives Group, LLC
Hudson Highland Group, Inc. (HHGP) Group One Trading, LP
Immersion Corp. (IMMR) Wolverine Trading, LLC
International Coal Group, Inc.(ICO) Group One Trading, LP
iPass, Inc. (IPAS) Wolverine Trading, LLC
IShares FTSE/Xinhua China 25 Index
(FXI) Group One Trading, LP
Kansas City Southern (KSU) PEAK6 Capital Management, LLC
Nexen, Inc. (NXY) Timber Hill, LLC
Nuvelo, Inc. (NUVO) Citadel Derivatives Group, LLC
POZEN, Inc. (POZN) PEAK6 Capital Management, LLC
Quantum Fuel Systems Tech
Worldwide, Inc. (QTWW) Cutler Group, LP
RADVision Ltd. (RVSN) Group One Trading, LP
SBA Comm Corp. (SBAC) Wolverine Trading, LLC
Silver Wheaton Corp. (SLW) Cutler Group, LP
SunPower Corp. (SPWR) Citigroup Derivatives Markets, Inc.
TD Banknorth, Inc. (BNK) PEAK6 Capital Management, LLC
Transmeridian Exploration, Inc.
(TMY) Cutler Group LP
Ubiquitel, Inc. (UPCS) Group One Trading, LP
Western Silver Corp. (WTZ) PEAK6 Capital Management, LLC
Additional information on ArcaEx daily, weekly and monthly trading transaction volumes is publicly available in real time through the ArcaVision website accessible via http://www.archipelago.com. Additional data and enhanced functionality can be obtained through a free subscription to ArcaVision. Investors and ArcaEx clients can subscribe to ArcaVision at http://www.arcavision.com.
(1) For purposes of calculating monthly transaction volume on ArcaEx, we
include all shares that are "handled" on ArcaEx for the month.
Handled shares include both shares that are bought and sold during the
month within our internal liquidity pool and shares that are routed to
external market centers for execution.
(2) ArcaEx monthly market share is calculated based on the number of
shares handled on the ArcaEx system during the month as a percentage
of total monthly volume. Total monthly volume is based on the number
of shares of equity securities traded during the month on Nasdaq, AMEX
or the NYSE, including, if applicable, exchange-traded funds, as
reported in the consolidated tape. The "consolidated tape" provides
last sale price and volume of equity securities transactions to the
public.
(3) In computing the percentage of monthly client order volume matched
internally and the monthly percentage of customer order volume routed
out, we calculate the percentage based on the volume of individual
customer orders, not the volume of matched trades (i.e., only counting
one side of a matched transaction). For example, we calculate two
customer orders matched internally on our system as two customer
orders matched internally, and we include the volume of both the buy
order and the sell order in computing our percentages of monthly
customer order volume matched internally and routed out. We calculate
one customer order routed to an external market center (which will be
matched with an order at that other market center) as one outbound
trade or one customer order. We calculate one customer order routed to
us from an external market center and matched with an order on our
system as one inbound trade or one customer order.
(4) Archipelago Holdings completed its acquisition of PCX Holdings, Inc.,
the parent company of the PCX, on September 26, 2005. Option volume
is reported by the Options Clearing Corporation (OCC).
About Archipelago Holdings
Archipelago Holdings (PCX: AX) operates the Archipelago Exchange(R) (ArcaEx(R)) the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange(R), American Stock Exchange(R), and ArcaEx(R). In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In September 2005, Archipelago acquired PCX Holdings, Inc., parent company of the Pacific Exchange and PCX Equities, Inc. allowing Archipelago to bring together the all-electronic trading of equity securities and options products thereby expanding and diversifying Archipelago's business lines. For more information please visit http://www.archipelago.com.
ArcaEx's, past transaction performance is not necessarily indicative of its future results. Periodically, ArcaEX's transaction performance will experience fluctuations due to unforeseen factors effecting trading activity, including seasonality, general economic, political and market conditions, unforeseen market closures or other disruptions in trading. A description of the factors that may influence ArcaEx's volume of securities transactions are identified in the Company's filings with the Securities Exchange Commission, including its Report on Form 10-K for the fiscal year ending December 31, 2004 which is available on the Company's website at http://www.archipelago.com.
Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Archipelago's current expectations and involve risks and uncertainties that could cause Archipelago's actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Factors that could cause Archipelago's results to differ materially from current expectations include: general economic and business conditions, industry trends, competitive conditions, regulatory developments as well as other risks or factors identified in the Company's filings with the Securities Exchange Commission, including its Report on Form 10-K for the fiscal year ending December 31, 2004 which is available on the Company's website at http://www.archipelago.com. You should not place undue reliance on forward- looking statements, which speak only as of the date of this press release. Except for any obligation to disclose material information under the Federal securities laws, Archipelago undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this press release.
