NYSE to Offer Floor Trading for All US Equity Securities
The exchange will allow Nasdaq-listed symbols and ETFs to be traded on its floor.
Nasdaq-listed symbols and exchange-traded funds (ETFs) will now be made available to trade on the NYSE trading floor. Currently, NYSE Arca Equities offers trading in all US securities. NYSE MKT will offer trading in all US securities following its move to an electronic Price/Time model in the second quarter of this year.
The transition is all part of the development of NYSE Pillar, the exchange operator's new trading system. By the end of 2017 all NYSE markets will trade all US-listed securities thanks to migration onto NYSE Pillar.
"We have a long-standing commitment to providing our issuers and member firms with choice. Our plan to provide even greater access to trade US securities is a positive move toward bolstering fair and transparent liquidity and offering even greater choice," said Stacey Cunningham, NYSE COO, in a statement. "We are committed to our proven market model that combines high-tech trading capabilities with human judgment at the point of sale on our iconic NYSE trading floor. We believe our model consistently delivers the best trading outcomes and lowest volatility for listed companies and investors, and NYSE listed companies will still receive the exclusive benefit of a NYSE Designated Market Maker."
NYSE's expansion of its trading floor comes a day after NYSE MKT, formerly known as the American Stock Exchange, made a regulatory filing announcing it will close its trading floor in the second quarter.
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