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Welcome, NYSE Alternext US
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Today completes the transition of the American Stock Exchange’s equity trading to NYSE Euronext’s platforms, according to this press release. The Amex’s equity unit, now called NYSE Alternext US, brings more than 500 additional listed companies and 150 closed-end funds.
What does this mean for the NYSE Alternext US trading community?
• Faster and more robust trading, connectivity and routing technologies via NYSE Euronext platforms;
• Lower pricing and new, competitive maker/taker pricing model;
• Greater transparency, via NYSE Alternext OpenBook Real-Time and NYSE Alternext OpenBook;
• Exposure for NYSE Alternext US securities to the NYSE liquidity pool;
• Streamlined access to the marketplace via a new trading-license model;
• Next-generation market structure leveraging the NYSE model;
• Enhanced opening and closing processes;
• Streamlined rule set and post-trade processes;
• Overall, improved functionality and customer experience.Other key parts of this integration:
• More than 650 exchange-traded products have moved their listing to NYSE Arca from the Amex, and that transition will wrap up this month;
• The final piece is expected to come in February 2009, when NYSE Amex Options opens its new trading floor at the NYSE.Today also is a historic day for a marketplace whose history traces back to the 1790s — as long as the NYSE’s. For as long as I’ve been here (and no, you wise guys, that’s not 200+ years), the Amex’s location has been referred to on the Street as “across the cemetary,” that is, on the other side of the Trinity Church cemetary. Today, the Amex equity traders walk instead into 11 Wall St., the new home of NYSE Alternext US. To all of you, and your customers, we say welcome.
Speaking of history, a little shot of trivia for your Monday morning:
Today in NYSE History
01 Dec 1873 — Regular trading hours were established - 10 a.m. to 3 p.m.; Saturdays, 10 a.m. to noon.I move that we go back to 10-3, but none of that Saturday stuff. Anyone second the motion?
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