The NYSE Group Inc. announced that it has completed the migration of the final 109 options issues to its new NYSE Arca Options platform.
The migration of the final batch of issues completes the system’s phased-in rollout of 1,941 total issues that began on Aug. 7. The NYSE says that investors benefit from NYSE Arca Options’ superior functionality, speed and transparency coupled with its highly competitive pricing structure.
The NYSE Arca Options system provides automatic executions for customer and broker dealer orders as well as a low-cost venue for both market makers to stream quotes from the trading floor or remotely. The exchange says that, blending price-time priority with lead market maker participation, NYSE Arca Options includes expanded and innovative order types, along with greater transparency and reliability.
“The introduction of NYSE Arca Options represents a significant step in the fulfillment of the NYSE Group’s goal of becoming a one-stop marketplace for a broad range of products and services,” said John Thain, NYSE Group CEO. “This platform delivers on our promise of creating a system that provides distinct value to the options market, demonstrates strategic growth to our shareholders, and furthers our mission of becoming the world’s preeminent multi-asset class marketplace.”
NYSE completes option migration to new platform
NYSE Arca Options system provides automatic executions for customer and broker dealer orders
- By: James Langton
- October 10, 2006 October 10, 2006
- 15:36