News Releases

 
NYSE Euronext to Launch Retail Liquidity Program
Retail investor trades to benefit from price improvement on the NYSE and NYSE MKT
 
New York, July 5, 2012 - NYSE Euronext (NYX) has received approval from the U.S. Securities and Exchange Commission (SEC) to establish a first-of-its-kind Retail Liquidity Program, a market innovation that produces cost savings for individual investors through price improvement on retail equities trading order flow for New York Stock Exchange (NYSE) and NYSE MKT listed and NASDAQ UTP-traded equity securities.  
 
The Retail Liquidity Program is complementary to existing marketplace offerings for retail investors and is intended for use by retail brokerage firms directly and market intermediaries that service retail order flow providers.  NYSE Euronext expects to activate the RLP on both the NYSE and NYSE MKT markets on Aug. 1, 2012.
 
"The Retail Liquidity Program is an attractive trade execution alternative for individual investors," said Joseph Mecane, Executive Vice President, NYSE Euronext.  "Providing price improvement for retail orders within an exchange environment affords individual investors new economic incentives and ensures greater transparency, liquidity and competition throughout the U.S. cash equities marketplace."
 
The new program will establish two new classes of market participants on NYSE and NYSE MKT:
  • Retail Liquidity Providers ("RLPs"), which would be required to provide price improvement ("Retail Price Improvement Orders") for certain retail order flow ("Retail Orders") in the form of interest that is better than the best protected bid or the best protected offer ("PBBO").  Similar to our other dedicated liquidity provider programs, RLPs would receive certain economic benefits in exchange for meeting performance obligations; and
  • Retail Member Organizations ("RMOs"), which would be eligible to submit Retail Orders to the Exchange.  
Member organizations other than RLPs are also permitted to submit Retail Price Improvement Orders.   The electronic Retail Liquidity Program requires participants to improve the PBBO by a certain minimum increment, benefiting the retail investor's execution price. 
 
The related rule filings for NYSE and NYSE MKT listed and UTP traded securities, respectively, can be found at:
 
Media Contacts:
Rich Adamonis
NYSE Euronext
212.656.2140
Radamonis@nyx.com
 
Keara Everdell
NYSE Euronext
212.656.2159
Keverdell@nyx.com
                                   
 
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 MKT, 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. For more information, please visit: http://www.nyx.com.
 
Disclaimer and Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext's plans, objectives, expectations and intentions and other statements that are not historical or current facts.   Forward-looking statements are based on NYSE Euronext's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements.  Factors that could cause NYSE Euronext's results to differ materially from current expectations include, but are not limited to: NYSE Euronext'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 Euronext's 2011 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers.  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 Euronext that the projections will prove to be correct. This press release speaks only as of this date.  NYSE Euronext disclaims any duty to update the information herein.