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NYSE Group, Inc. (NYSE: NYX) celebrated its newest additions to NYSE Arca when Evergreen Energy Inc. (NYSE Arca: EEE) and BFC Financial Group (NYSE Arca: BFF ) each joined NYSE Group, Inc. senior management in bell ringing ceremonies this week.
Today Evergreen Energy Inc., formerly KFx Inc., became the third company to join NYSE Arca, since the completion of NYSE Arca merger. The company celebrated its successful transfer from Amex by ringing today’s Opening Bell.
Yesterday, BFC Financial celebrated its June 22 transfer from Nasdaq when the company joined NYSE Group CEO John A. Thain for The Opening Bell.
Darwin Professional Underwriters, Inc. (NYSE Arca: DR ) was the first company to join NYSE Arca on May 19. “Listing on the NYSE Arca platform aligns the quality and strategic attributes of Evergreen Energy with the trading of our stock,” said Evergreen Energy, Inc. Chairman & CEO Mark Sexton. “We’re excited about the improved market making and visibility associated with listing on the NYSE Arca platform into our overall branding strategy.”
NYSE Arca is the first open, all-electronic stock Exchange in the United States . NYSE Group Inc.’s multiple market platforms provides superior trading quality over competitor models. In the NYSE Arca market model, listed issuers participate in the selection of a “Lead Market Maker” who is responsible for maintaining tight spreads and providing the opportunity for price improvement.
NYSE Arca listing standards extend the NYSE’s current focus on providing a listing and trading venue for quality companies.
Background about listing on NYSE ArcaSM:
NYSE Group’s multiple market platforms share similar attributes, providing superior trading quality, as measured by its effective spread and speed, over competitor models. In the NYSE Arca market model, listed issuers participate in the selection of a “Lead Market Maker” responsible for maintaining tight spreads and providing the opportunity for price improvement. By providing excellent market quality, NYSE Arca has captured a 21.2 % (in the month of Aug., 2006) of trading in Nasdaq stocks, a 3 % increase from the previous year.
NYSE Arca listing standards extend the NYSE’s current focus on providing a listing and trading venue for quality companies.
- 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. For the period from January 1, 2006 to June 30, 2006 , on an average trading day, over 795.1 million shares, valued at over $27.4 billion, were traded through NYSE Arca’s trading platforms. 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.
- On June 8, 2006 , NYSE Arca achieved a new all-time record in daily trading volume with 1.49 billion shares traded, representing $55.0 billion. On April 27, NYSE Arca volume surpassed 1.0 billion shares traded for the first time. Including this milestone, NYSE Arca volume exceeded 1 billion shares 13 times during the second quarter.
- NYSE Arca-listed companies participate in the selection of a “Lead Market Maker” who is 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 "transfer" to the full NYSE listing as they’re already part of the NYSE Group family of listed companies.
About NYSE Group, Inc.
NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the “NYSE”) and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The NYSE is the world’s largest and most liquid cash equities exchange. The NYSE provides a reliable, orderly, liquid and efficient marketplace where investors buy and sell listed companies’ common stock and other securities. On August 31, 2006 , our listed operating companies represent a total global market capitalization of over $23 trillion. In the first eight months of 2006, on an average trading day, almost 1.8 billion shares, valued at over $68.5 billion, were traded on the NYSE.
NYSE Arca operates the first open, all-electronic stock exchange in the United States and has a leading position in trading exchange-traded funds and exchange-listed securities. NYSE Arca is also an exchange for trading equity options. NYSE Arca’s trading platform provides customers with fast electronic execution and open, direct and anonymous market access.
NYSE Regulation, an independent not-for-profit subsidiary, regulates member organizations through the enforcement of marketplace rules and federal securities laws. NYSE Regulation also ensures that companies listed on the NYSE and NYSE Arca meet their financial and corporate governance listing standards.
For more information on NYSE Group, go to: www.nyse.com. Information contained on our website does not constitute a part of the prospectus relating to the proposed offering.
