NEW YORK , October 13, 2008 - NYSE Arca, Inc., a subsidiary of NYSE Euronext (NYX), today announced that NYSE Arca Options will expand its auction billing rates to include sweep trades in all penny pilot issues.
NYSE Arca Options Launches Auction Billing for Penny Pilot Issues
"NYSE Arca Options continues to find ways to better serve our customers with new products and services that enhance their ability to trade," said Edward Boyle, Senior Vice President, NYSE Arca Options. "As the first to offer post/take pricing in the U.S. options market, our unique auction billing is another piece of our value proposition that we hope customers find useful and avail themselves of when accessing the liquidity on our options exchange."
Currently, all auction trades in penny pilot issues are not subject to post/take pricing and therefore trade for free. In response to client requests, auction billing is being expanded to include any orders that are received prior to the auction, and are marketable for auction, but trade as part of an auction imbalance during sweep trading. For example, if an auction occurs at $1.20, and prior to auction a client has entered an order to pay $1.20 or greater, or a sell order priced at $1.20 or less, and these orders do not participate in the auction but trade during sweep, the client will receive auction billing. Contras to these orders will also receive auction billing.
For more information, including an example of how auction billing works, please visit: http://www.nyse.com/pdfs/Arca_Auction_Billing.pdf
About NYSE Euronext
NYSE Euronext (NYX) operates the world’s leading and most liquid exchange group, and seeks to provide the highest levels of quality, customer choice and innovation. Its family of exchanges, located in six countries, includes the New York Stock Exchange, the world's largest cash equities market; Euronext, the Eurozone's largest cash equities market; Liffe, Europe's leading derivatives exchange by value of trading; NYSE Liffe, the company’s U.S. futures business and NYSE Arca Options, one of the fastest growing U.S. options trading platforms. NYSE Euronext offers a diverse array of financial products and services for issuers, investors and financial institutions in cash equities, options, futures and derivatives, ETFs, bonds, market data, and commercial technology solutions. As the world’s largest exchange group by number of listings and market capitalization, NYSE Euronext is home to more than 6,500 listed issues (as of Oct. 1, 2008) with total global market capitalization more than four times that of any other exchange group. The average daily trading value of NYSE Euronext's equity exchanges represent more than one-third of the world's cash equities 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 and free real-time stock prices for all NYSE-listed securities, please visit www.nyx.com.
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