NYSE Euronext Announces Strategic Price Changes In U.S. Cash Equities

New Pricing on NYSE and NYSE Arca Provides Investors Choice
Attractive Rates for All Customers, Without Volume Tiers
Highest Rebate for All Customers Among Major U.S. Exchanges
Lowest Take Fees for All Customers Among Major U.S. Exchanges

NYSE Euronext (NYX) today announced new strategic pricing for equities transactions on the New York Stock Exchange (NYSE) and NYSE Arca, Inc. (NYSE Arca) that utilizes the unique attributes of its market models.

Expected to be effective as of Oct. 1, 2007 , the new plan adjusts fee schedules on both the NYSE and NYSE Arca to ensure continued market leadership in NYSE-listed securities and to enhance positioning in trading of Nasdaq-listed securities on NYSE Arca.

“This is a dual-market-model approach to pricing on our two U.S. exchanges that gives our customers flexibility in accessing low transaction costs and superior liquidity when trading NYSE and Nasdaq-listed securities,” said Duncan Niederauer, President & Co-Chief Operating Officer.

“Our new pricing plan strategically leverages the unique combination of the NYSE and NYSE Arca, and improves our competitive position in the trading of both NYSE and Nasdaq-listed securities. It also reinforces NYSE Euronext’s ongoing commitment to provide our customers with choice and the best trading experience possible.”

New Pricing on NYSE and NYSE Arca in “Tape A” Securities (NYSE-listed)
For trading in NYSE-listed equities the new plan ensures attractive rates without volume tiers for all customers and includes these attributes:

An increase in the rebate on NYSE Arca from $0.20 to $0.25 per 100 shares for all customers, making it the highest rebate among major U.S. exchanges, which is particularly attractive to proprietary traders seeking faster executions;
No fees for liquidity providers on the NYSE, while charging liquidity takers $0.08 per 100 shares, ensuring that the NYSE continues to offer the lowest take fee for all customers. Liquidity takers will have the potential to save up to 73% trading on the NYSE;
Free agency block crosses on the NYSE and fee caps on mega block trades when committing capital;
A routing fee increase from $0.25 to $0.30 per 100 shares, which is generally a pass-through cost for routing trades to other market centers. This fee may be avoided using the NYSE’s new “Do Not Ship” order type;
Free routing to the NYSE from NYSE Arca using the new Primary Sweep Order (PSO ) on NYSE Arca. The PSO will first sweep the NYSE Arca book, then route to the NYSE for free, which effectively reduces a customer’s average take fee on NYSE Arca in NYSE-listed securities.

New Pricing on NYSE Arca in “Tape C” Securities (Nasdaq-listed)
For trading in Nasdaq-listed securities on NYSE Arca, the new plan reduces NYSE Arca’s take fee from $0.30 to $0.25 per 100 shares for all customers, making it the lowest take fee among all major U.S. exchanges. This new fee structure is expected to improve NYSE Arca’s positioning in order routing, while rewarding liquidity providers with better fill rates.

New NYSE & NYSE Arca Pricing for U.S. Cash Equities