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NYSE Euronext (NYSE Euronext: NYX) today announced that, according to the Transaction Auditing Group, Inc. (TAG), NYSE Arca Options has consistently offered the best price four times more often than any other market center for options that are included in the SEC’s penny pilot program. Across all 13 pilot securities, NYSE Arca Options was, on average, alone at the National Best Bid 6.3% of the time and alone at the National Best Offer 6.2% of the time. Additionally, NYSE Arca displayed prices equal to the National Best Bid and Offer (NBBO) over 78% of the trading day.
Among exchanges quoting the most active equity option, QQQQ, NYSE Arca was four times more likely to exclusively display the National Best Bid or National Best Offer. The NYSE Arca quote was equal to the NBBO 78.6% of time, 8.7% more often than the ISE and 29% more often than the CBOE.
“We are very pleased with the results of the pilot program and the overall performance of the NYSE Arca Options platform,” said Lawrence Leibowitz, Executive Vice President and COO, U.S. Products. “With the tightest markets and most competitive pricing, NYSE Arca has clearly demonstrated that it is the most successful market model for price discovery and provides the most benefit to retail customers during the SEC’s penny pilot program.”
Designed to maximize speed and capacity, NYSE Arca Options offers customers unique order types and the choice between an all electronic or a floor based execution in over 2,000 options issues.
Please click here to view the Transaction Auditing Group, Inc. (TAG) complete summary of the Penny Pilot quoting statistics.
Transaction Auditing Group, Inc. (TAG)
The Transaction Auditing Group, Inc. (TAG), an independent company, is not affiliated with the NYSE Euronext. The statistics provided by TAG are from sources believed to be reliable, but TAG makes no representation as to the completeness, or fitness for any particular purpose. The TAG trademark and logo are the intellectual property of The Transaction Auditing Group, Inc. Information produced by TAG is copyrighted and any unauthorized use, duplication, redistribution or disclosure is prohibited. For information on The Transaction Auditing Group Inc. (TAG), please visit www.tagaudit.com.
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007 . NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.8 trillion/€22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/€94.0 billion (as of June 29, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
