-New Crossing System Provides Trading Technology Solutions for Investors and Market Professionals-
NYSE Group Acquires MatchPoint Trading, Inc.
-Open Architecture Offers Next Generation Crossing Opportunities-
NEW YORK, July 19, 2006 – The NYSE Group, Inc. (NYSE: NYX ) today announced its July 17 acquisition of trading technology via a transaction with MatchPoint Trading, Inc., a financial services technology company specializing in call market trading and technologies.
“This acquisition gives the NYSE Group and its clients a strong platform for technological growth in benchmark trading,” said Mike Cormack, NYSE Group Executive Vice President. “This is a significant step toward our goal of offering customers the most comprehensive and all-encompassing set of trading technology solutions that meet their needs and exceed their expectations.”
“MatchPoint was created to champion next generation crossing opportunities for today’s evolving marketplace,” said Jim Ross, MatchPoint Trading Founder and CEO, who will join the NYSE Group as Vice President of Crossing Technology. “By bringing our innovative, point-in-time benchmark crossing services to the NYSE Group we can now offer the advantages of the MatchPoint engine to investors, issuers and market professionals around the world.”
Combining cutting edge trading technologies with veteran crossing industry expertise to develop and establish highly attractive crossing opportunities for institutions and brokers, MatchPoint’s expansive and innovative trading technology will enhance the suite of crossing services provided by the NYSE in the first quarter of 2007.
The terms of the transaction were not disclosed. Charles Willis of Fledgling Capital Advisors advised MatchPoint Trading, Inc. on the transaction.
About the MatchPoint Technology
A proprietary electronic equity crossing system that matches aggregated orders at predetermined and distinct times, at prices that are derived from the primary market for securities (NYSE, AMEX and NASDAQ), the MatchPoint technology can operate multiple matches each with a unique benchmark pricing model. MatchPoint has designed its technology relevant to the critical standards of sophisticated portfolio traders who manage multiple lists with different time and execution constraints. MatchPoint can also process internal crosses for single participants and seamlessly enables residuals to participate in scheduled crossing sessions.
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 June 30, 2006 , our listed operating companies represent a total global market capitalization of over $ 22.6 trillion. In the second quarter 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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this article may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on NYSE Group’s current expectations and involve risks and uncertainties that could cause NYSE Group’s actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Actual results may differ materially from those expressed or implied in the forward-looking statements. Factors that could cause NYSE Group’s results to differ materially from current expectations include, but are not limited to: NYSE Group’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 Group’s Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission. 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 Group that the projections will prove to be correct. We undertake no obligation to release any revisions to any forward-looking statements.