“We are pleased to welcome Darwin Professional Underwrites as the first addition to NYSE Arca,” said NYSE Group Inc. President and co-COO Catherine R. Kinney. “We look forward to providing Darwin with the superior market making, global brand visibility, and outstanding portfolio of services that issuers expect from the NYSE Group. We look forward to a great partnership with Darwin and, going forward, to serving a broader array of quality companies.”
"Darwin is excited about our initial public offering and listing on NYSE Arca,“ said Darwin Professional Underwriters Inc. CEO Stephen Sills. “We look forward to the next stage of our evolution, and an outstanding and productive partnership with NYSE Arca. Darwin is very impressed with NYSE Arca's ability to meet the needs of our company and our shareholders. We are particularly pleased to be the first listing since the merger of the NYSE and ARCA, and anticipate a great relationship going forward."
NYSE Group’s multiple market platforms share similar attributes, providing superior trading quality over competitor models. In the NYSE Arca market model, listed issuers choose a “Lead Market Maker” responsible for maintaining tight spreads and providing the opportunity for price improvement. NYSE Arca has captured a significant portion of trading in Nasdaq stocks by providing excellent market quality, as measured by its superior effective spreads and speed.
NYSE Arca listing standards extend the NYSE’s current focus on providing a listing and trading venue for quality companies.
For more information about listing on NYSE Arca, please turn to the next page.
Background about Listing on NYSE Arca:
- Growth companies have the opportunity to list on NYSE Group for the first time on NYSE Arca. This gives issuers – both domestic as well as non-US companies -- an alternative listing venue, while enabling NYSE Group to compete for smaller-sized companies that previously did not qualify for the NYSE.
- NYSE Arca is a globally recognized, fully electronic platform that trades over 700 million shares each day on average, and that is growing quickly. NYSE Arca recorded its first one billion-plus trading day on April 27, with 1.1 billion shares representing a dollar value of $39.8 billion traded.
- NYSE Arca-listed companies choose a “Lead Market Maker” responsible for maintaining depth and quality of trading in the stock. The “Lead Market Maker” brokerage firm has quote and execution obligations and the responsibility for keeping tight spreads in the stock – resulting in the superior market quality that issues have come to expect.
- Once they qualify, NYSE Arca-listed companies are able to seamlessly "graduate" to the full NYSE listing as they’re already part of the NYSE Group family of listed companies.
