In addition to its European cash markets operations, NYSE Euronext operates four equity markets in the United States. NYSE and NYSE Arca are both registered securities exchanges for the listing and trading of equities, fixed income and structured products.
The recently acquired American Stock Exchange has been renamed NYSE MKT and focuses on listing and trading of small and micro-cap companies. Through ArcaEdge, over-the-counter (OTC) and pink-sheet equities are traded.
NYSE Euronext’s U.S. cash markets achieve record volumes, with an average of 2 billion shares traded daily (April 2011), executing more matched volume than any other U.S. exchange. NYSE Euronext European and U.S. equities markets account for one third of the world’s cash equities trading.
The New York Stock Exchange is the largest and most liquid cash equities exchange in the world. Around 1.6 billion shares are exchanged daily on the floor of the NYSE, with average daily trading value worth more than US$45 billion. There are currently approximately 8,000 issues listed on the exchange (April 2011). The NYSE has a unique market structure, offering fast, automated and anonymous execution, improved prices, dampened volatility and added liquidity.
This unique model preserves the most beneficial elements of floor-based trading, incorporates the speed and benefits of fully electronic trading, and provides customers with the highest levels of market quality and competitiveness. NYSE-traded equities show consistently lower volatility and execution costs than comparable equities traded on other venues.
To list on the NYSE, a company must have in excess of 2,200 shareholders with an average daily trading volume of at least 100,000 shares. Generally, a company must have a total capitalization of US$750 million or pre-tax earnings in excess of US$10 million although there are several combinations available to potential issuers.
NYSE Arca is a fully electronic exchange, trading more than 8,000 exchange-listed (Nasdaq included) equity securities. NYSE Arca’s trading platform links traders to multiple US market centers and provides customers with fast electronic execution and open, direct and anonymous market access.
NYSE Arca’s distinct market structure and functionality delivers the advantages of both displayed and dark liquidity, significant transparency and tremendous speed and efficiency. The trading rules are based on price-time priority. NYSE Arca provides a fully automated, totally transparent opening auction and closing auction for all equities.
As a result of its superior speed and functionality, NYSE Arca has become the leading exchange in the US for listing and trading exchange-traded funds (ETFs) and other exchange traded products (ETPs).
NYSE MKT is positioned to be the premier market for listing and trading of small and micro cap companies. Its streamlined listing requirements and trading rules are suited to the size and business needs of small and micro-cap firms while ensuring investor transparency. Currently more than 550 companies are listed.
ArcaEdge is a fast, efficient and fair platform to trade over-the-counter (OTC) equities and offers customers best-price executions based on liquidity, transparency, speed and anonymity.
As an all-electronic matching system, ArcaEdge provides interactive, real-time display of the order book, best execution intelligent order routing tools, speed, consistency and reliability. ArcaEdge is a truly unique participant in today’s OTC equities marketplace and is the professional’s choice for OTC executions.
Included in NYSE Euronext’s growing portfolio of product and service offerings is our new bond market and our portfolio-based, point-in-time electronic exchange facility.
NYSE Bonds is an all-electronic platform that provides an efficient and transparent way to trade bonds, based on price-time priority.
NYSE MatchPoint is an electronic trading facility that matches aggregated orders at pre-determined fixed times with prices derived from primary markets. MatchPoint’s portfolio-crossing technology expands the ability to match baskets of equities.
The New York Block Exchange, launched in January 2009, is designed to improve execution quality and access to block trading liquidity. NYBX is a 50/50 joint venture between NYSE Euronext and BIDS Holdings, LP.