NYSE Euronext (NYX), the world’s leading and most diverse exchange group, today announced the completion of the transition of all Amex equity trading to NYSE Euronext-supported trading platforms. In connection with the trading system transition, NYSE Alternext US’ trading floor relocated to NYSE’s trading floor facilities at 11 Wall Street. In addition, over 650 ETPs transferred their listing to NYSE Arca from NYSE Alternext US. NYSE Alternext US will continue to be the listing venue for over 500 operating companies and 150 closed-end funds. NYSE Euronext’s acquisition of the American Stock Exchange closed October 1, 2008 .
“NYSE Euronext welcomes the NYSE Alternext US trading community to the NYSE and the issuers and sponsors of the exchange traded products newly listing on NYSE Arca,” said Joseph Mecane, Executive Vice President, NYSE Euronext. “We plan to utilize our advanced technology to significantly improve overall functionality, pricing and customer experience for NYSE Alternext US .”
Equities
“Moving to the NYSE trading floor affords customers and investors the benefits of our improved technology and connectivity, further strengthened by advanced transparency tools like NYSE Alternext OpenBook, and our enhanced opening and closing processes,” said Oscar Onyema, Managing Director, NYSE Alternext US. “With a streamlined rule set and post-trade processes, NYSE Alternext US will be one of the premier venues for listing and trading small and micro cap securities.”
Including the NYSE Alternext US companies, NYSE Euronext now trades nearly 4,600 listed issuers and 6,500 listed issues (as of Dec. 1, 2008), executing over one-third of the world’s cash equities trading volume, more than any other exchange group. As part of the transition, NYSE Alternext OpenBook Real-Time and NYSE Alternext OpenBook Ultra, which provide a view of the depth of book information on the NYSE Alternext limit-order book, have replaced the current Amex depth of book product.
ETPs
“With NYSE Euronext’s proven record of strong product launches and commitment to customer service, our ETP issuers and clients will enjoy the competitive advantages of NYSE Arca’s superior market model, industry-leading market quality and dedicated liquidity providers,” said Lisa Dallmer, Senior Vice President, Global Indexes & Exchange Traded Products. “We are very pleased to finalize another growth milestone by welcoming new ETP issuers to the world’s largest market for exchange-traded products, NYSE Arca.”
In December 2008, NYSE Arca anticipates completion of the successful transfer of listings for Amex-listed ETP issuers choosing to take advantage of the harmonized listing and trading services of the NYSE Arca model, expanding NYSE Euronext’s U.S. leadership position in ETPs. Globally, NYSE Euronext lists and trades more ETPs than any other market place.
NYSE Alternext operates on the NYSE’s next-generation market model, which offers a balanced combination of fast, high-tech automation and order anonymity along with high-touch price discovery and price improvement capabilities. New transaction pricing further positions NYSE Alternext US as a low-cost market center for liquidity takers and a competitively structured venue for liquidity makers seeking rebates.
NYSE Amex Options is also expected to complete its relocation effort in February 2009 with the opening of the new options trading floor at the NYSE.
