NEW YORK CITY, July 9, 2010 -- NYSE Amex, a unit of NYSE Euronext (NYX), today announced that pending Securities and Exchange Commission approval, it will begin trading Nasdaq-listed issues on July 13, 2010 on an Unlisted Trading Privilege (UTP) basis, bringing a different market model to the trading of Nasdaq stocks.
“Trading Nasdaq-listed issues on the NYSE Amex platform will provide greater choice for our customers,” said Joseph Mecane, Executive Vice President and Co-Head of U.S. Listings and Cash Execution. “NYSE Euronext is now able to offer traders in Nasdaq stocks two distinctive models – NYSE Amex in addition to NYSE Arca – which appeals to different types of firms and to traders with diverse execution strategies.”
NYSE Amex will feature the following benefits for trading Nasdaq-listed issues:
• A designated market maker assigned to each issue, with an obligation to make fair, orderly markets and to quote at the best bid or offer a certain percentage of the time;
• One or more electronic, off-floor supplemental liquidity providers for most issues, with an economic incentive to add liquidity at the best price a certain percentage of the time;
• An additional market center with a differentiated pricing structure; and
• A parity-based system that enables the designated market maker, any floor broker and the first order in the exchange’s order book to have equal standing in terms of execution priority at a particular price level.
NYSE Amex will add Nasdaq-listed issues on a gradual basis starting with 10 issues on July 14, to be followed by additional issues to be announced soon.
About NYSE Euronext
NYSE Euronext (NYX) is a leading global operator of financial markets and provider of innovative trading technologies. The company's exchanges in Europe and the United States trade equities, futures, options, fixed-income and exchange-traded products. With approximately 8,000 listed issues (excluding European Structured Products), NYSE Euronext's equities markets – the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca – represent one-third of the world's equities trading, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, one of the leading European derivatives businesses and the world's second-largest derivatives business by value of trading. The company offers comprehensive commercial technology, connectivity and market data products and services through NYSE Technologies. NYSE Euronext is in the S&P 500 index, and is the only exchange operator in the S&P 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
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