NYSE Arca: Difference between revisions
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[[File:Db-X Deutsche Bank Arca 2011 Shankbone.jpg|thumb|The [[New York Stock Exchange]] building on August 9, 2011, when [[Deutsche Bank]]'s db-X Group commenced trading on NYSE Arca<ref>[https://www.reuters.com/article/2011/08/09/idUS146177+09-Aug-2011+BW20110809 Deutsche Bank`s db-X Opens NYSE Arca on August 9], Reuters</ref>]] |
[[File:Db-X Deutsche Bank Arca 2011 Shankbone.jpg|thumb|The [[New York Stock Exchange]] building on August 9, 2011, when [[Deutsche Bank]]'s db-X Group commenced trading on NYSE Arca<ref>[https://www.reuters.com/article/2011/08/09/idUS146177+09-Aug-2011+BW20110809 Deutsche Bank`s db-X Opens NYSE Arca on August 9], Reuters</ref>]] |
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'''NYSE Arca''', previously known as '''ArcaEx''', an abbreviation of '''Archipelago Exchange''', is an [[Exchange (organized market)|exchange]] on which both stocks and options are traded. |
'''NYSE Arca''', previously known as '''ArcaEx''', an abbreviation of '''Archipelago Exchange''', is an [[Exchange (organized market)|exchange]] on which both stocks and options are traded. It was owned by [[Intercontinental Exchange]]. It merged with the [[New York Stock Exchange]] in 2006 and now operates as a subsidiary of the NYSE Group, Inc.<ref name="investopedia">{{cite web | url=https://www.investopedia.com/terms/a/archipelago.asp | title=Archipelago | first=Will | last=Kenton | accessdate=May 9, 2019 | date=April 4, 2018 | publisher=Investopedia}}</ref> <ref name="bizweek"></ref>It is headquartered in [[Chicago]].<ref name="bizweek">{{cite web|url=http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=7960146|title=NYSE Arca Overview|website=Bloomberg BusinessWeek}}</ref> |
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Early reports indicated that NYSE Arca may have played a role in the [[2010 Flash Crash]].<ref>{{cite news| url=https://blogs.wsj.com/marketbeat/2010/05/11/nasdaq-heres-our-timeline-of-the-flash-crash/ | work=The Wall Street Journal | first=Matt | last=Phillips | title=Nasdaq: Here's Our Timeline of the Flash Crash | date=11 May 2010}}</ref>{{Update inline|reason=It's been eight years; conclusions have probably been reached.|date=May 2018}} |
Early reports indicated that NYSE Arca may have played a role in the [[2010 Flash Crash]].<ref>{{cite news| url=https://blogs.wsj.com/marketbeat/2010/05/11/nasdaq-heres-our-timeline-of-the-flash-crash/ | work=The Wall Street Journal | first=Matt | last=Phillips | title=Nasdaq: Here's Our Timeline of the Flash Crash | date=11 May 2010}}</ref>{{Update inline|reason=It's been eight years; conclusions have probably been reached.|date=May 2018}} |
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In 2005, Archipelago Holdings, the owner of ArcaEx, bought the [[Pacific Exchange]], after what had been a close working relationship since 2001.<ref>{{cite news |url=http://articles.chicagotribune.com/2005-01-04/business/0501040314_1_pacific-exchange-american-stock-exchange-archipelago-holdings |title=Archipelago to Buy the Pacific Exchange |date=January 4, 2005 |publisher=Chicago Tribune |first=New |last=York}}</ref> |
In 2005, Archipelago Holdings, the owner of ArcaEx, bought the [[Pacific Exchange]], after what had been a close working relationship since 2001.<ref>{{cite news |url=http://articles.chicagotribune.com/2005-01-04/business/0501040314_1_pacific-exchange-american-stock-exchange-archipelago-holdings |title=Archipelago to Buy the Pacific Exchange |date=January 4, 2005 |publisher=Chicago Tribune |first=New |last=York}}</ref> |
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In 2006 it ArcaEx merged with the New York Stock Exchange (NYSE) and the name was changed to NYSE Arca. |
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On August 22, 2013 the Arca system sent multiple sequences to Nasdaq which overloaded the Securities Information Processor (SIP) caused by reconnection issues to Nasdaq. This in turn caused a chain effect reaction which led to the [[August 2013 NASDAQ flash freeze|NASDAQ flash freeze]].<ref>{{Cite web|url=http://ir.nasdaq.com/news-releases/news-release-details/nasdaq-omx-provides-updates-events-august-22-2013|title=NASDAQ OMX Provides Updates on Events of August 22, 2013 {{!}} Nasdaq, Inc.|website=Nasdaq, Inc.|language=en|access-date=2018-10-19}}</ref> |
On August 22, 2013 the Arca system sent multiple sequences to Nasdaq which overloaded the Securities Information Processor (SIP) caused by reconnection issues to Nasdaq. This in turn caused a chain effect reaction which led to the [[August 2013 NASDAQ flash freeze|NASDAQ flash freeze]].<ref>{{Cite web|url=http://ir.nasdaq.com/news-releases/news-release-details/nasdaq-omx-provides-updates-events-august-22-2013|title=NASDAQ OMX Provides Updates on Events of August 22, 2013 {{!}} Nasdaq, Inc.|website=Nasdaq, Inc.|language=en|access-date=2018-10-19}}</ref> |
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Revision as of 09:30, 9 May 2019
 | This article needs additional citations for verification. (May 2007) |
NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is an exchange on which both stocks and options are traded. It was owned by Intercontinental Exchange. It merged with the New York Stock Exchange in 2006 and now operates as a subsidiary of the NYSE Group, Inc.[2] [3]It is headquartered in Chicago.[3]
Early reports indicated that NYSE Arca may have played a role in the 2010 Flash Crash.[4][needs update]
History
In November 1994, Stuart Townsend and Gerald Putnam founded TerraNova Trading LLC, an electronic securities exchange, in Chicago. Its product, Archipelago, started accepting trading orders on January 20, 1997.[5]
In 2005, Archipelago Holdings, the owner of ArcaEx, bought the Pacific Exchange, after what had been a close working relationship since 2001.[6]
In 2006 it ArcaEx merged with the New York Stock Exchange (NYSE) and the name was changed to NYSE Arca.
On August 22, 2013 the Arca system sent multiple sequences to Nasdaq which overloaded the Securities Information Processor (SIP) caused by reconnection issues to Nasdaq. This in turn caused a chain effect reaction which led to the NASDAQ flash freeze.[7]
On Monday, March 20, 2017, the Arca platform stopped functioning due to a "system issue" and the exchange was unable to close trading for an undetermined number of funds.[8]
Fees
NYSE Arca's liquidity fee and rebate structure resembles that of other electronic communication networks. In late 2006, it was the first one to offer NASDAQ-style fees on New York Stock Exchange-listed securities, a move that was soon copied by NASDAQ and other electronic communication networks. NYSE Arca charges traders that remove liquidity from the Arca-book $3.00 per 1,000 shares. Traders that add liquidity receive a $2.00 rebate per 1,000 shares. Traders that route orders out of the NYSE Arca system are charged $1.00 per 1,000 shares for Tape A securities and $4.00 per 1,000 shares for other securities.[citation needed]
See also
- List of stock exchanges
- List of stock exchanges in the Americas
- List of stock exchange mergers in the Americas
References
- ^ Deutsche Bank`s db-X Opens NYSE Arca on August 9, Reuters
- ^ Kenton, Will (April 4, 2018). "Archipelago". Investopedia. Retrieved May 9, 2019.
- ^ a b "NYSE Arca Overview". Bloomberg BusinessWeek.
- ^ Phillips, Matt (11 May 2010). "Nasdaq: Here's Our Timeline of the Flash Crash". The Wall Street Journal.
- ^ "Archipelago Holdings LLC". Free Encyclopedia of Ecommerce.
- ^ York, New (January 4, 2005). "Archipelago to Buy the Pacific Exchange". Chicago Tribune.
- ^ "NASDAQ OMX Provides Updates on Events of August 22, 2013 | Nasdaq, Inc". Nasdaq, Inc. Retrieved 2018-10-19.
- ^ "Glitch at NYSE Arca Hits Hundreds of Exchange Traded Funds". Financial Times. March 21, 2017.
External links
- NYSE Arca Trading Information on NYSE.com
- NYSE to merge with Archipelago; NASDAQ to buy Instinet. Wikinews
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