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The New York Stock Exchange announced today that, at the request of and in cooperation with SIG Specialists, Inc., it will allocate the specialist assignment in 147 NYSE-listed stocks to Kellogg Specialist Group by
“The NYSE is committed to providing a smooth transition experience for these listed issuers and the investment community. We are pleased that Kellogg Specialist Group will be taking on these additional responsibilities and we welcome their efforts to expand their operations on the NYSE floor,” said Duncan Niederauer, President and co-Chief Operating Officer, NYSE Euronext. “I applaud SIG for their contributions to trading on the Exchange and for working with us to ensure a seamless transition. We see this as the first phase of a larger, more extensive transition process where we expect to add new liquidity providers to our Specialist community, further enhancing market quality on the NYSE.”
“SIG thanks the NYSE for its cooperation during this transition in its NYSE-listed specialist business,” said Todd Abrahall, President of SIG Specialists. “As one of the largest liquidity providers - electronic and otherwise - in equities and options in the
Kellogg Specialist Group handles 290 NYSE listed issues, or 10% of all issues listed on NYSE. Kellogg's trading activity represents approximately 3% of NYSE volume.
In addition to SIG Index Specialists and Kellogg Specialist Group, current NYSE specialist firms include: Banc of America Specialist; Bear Wagner Specialists LLC; LaBranche & Co. LLC; Spear, Leeds & Kellogg Specialists LLC; Van der Moolen Specialists, USA LLC.
For more information on specialists, go to: www.nyse.com/productservices/nyseequities/1167954368183.html.
