NYSE Euronext Completes Transition of American Stock Exchange Equities and ETPs
-All Exchange Traded Products to Trade on NYSE Arca Platform-
-Equities Traders Moved from Amex to NYSE Trading Floor-
-NYSE Alternext OpenBook Products Launched-
New York – 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 .”
“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.
“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.
About NYSE Euronext
NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, Liffe, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world’s cash equities volume. NYSE Euronext also manages the leading European derivatives exchange by value of trading. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.
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