NEW YORK , Oct. 4, 2006 –The New York Stock Exchange will begin “Phase III” implementation of the Hybrid Market on Friday, Oct. 6. This follows the Saturday, Sept. 30 successful market-wide training exercise involving floor brokers, specialists and other market participants that involved full-scale functional testing through simulated trading in NYSE-listed stocks.
NYSE Hybrid MarketSM “Phase III” Implementation Begins Friday, Oct. 6
The Oct. 6, Phase III full Hybrid Market trading will begin with two NYSE-listed securities, American Express Company (AXP) and Equity Office Properties Trust (EOP), and specialist firms LaBranche & Co. and Kellogg Specialist Group, respectively. This will be followed by the roll-out of all NYSE-listed securities through early Dec. 2006. Certain changes to the rules governing the NYSE Hybrid Market are subject to Securities and Exchange Commission approval.
The NYSE Hybrid Market provides customers’ unparalleled choice and flexibility in trading NYSE-listed securities, while maintaining the Exchange’s hallmarks of best price, price improvement and superior market quality.
For a detailed list of current Hybrid Market features and previously implemented phases, please visit: http://www.nyse.com/hybrid and http://hybridtalk.nyse.com.
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.