The FINANCIAL -- The New York Stock Exchange (NYSE), part of Intercontinental Exchange on January 11 announced plans to expand its floor-based trading operations, offering investors even greater access to trade all U.S. securities for the first time with NYSE’s unique and proven market model.
NYSE plans to offer trading in all U.S. securities, including Nasdaq-listed symbols and all listed exchange traded products. This move represents continued, significant investment by ICE in the NYSE trading floor operations to bring greater value, transparency and efficiency to the U.S. equity markets. NYSE Arca Equities already offers trading in all U.S. securities. NYSE MKT will expand to include trading in all U.S. securities when it moves to an electronic Price/Time model in the second quarter of 2017, according to Intercontinental Exchange.
NYSE is one of the world’s enduringly active trading floors and is the only U.S. exchange to offer Parity allocation. The NYSE allocation model deemphasizes speed so that multiple participating investors have equal access to trade at the same price, regardless of when an order arrived. With the expansion, NYSE’s trading floor members will be able to offer their clients the benefit of parity in securities listed on other U.S. equity exchanges.
Today, the NYSE Group consistently trades more volume than any other U.S. exchange. By year-end 2017, all NYSE markets will trade the full universe of 8,600 U.S. listed securities, including exchange traded products, when NYSE migrates to 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 U.S. securities is a positive move toward bolstering fair and transparent liquidity and offering even greater choice,” said Stacey Cunningham, NYSE COO.
“We are committed to our proven market model that combines hi-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 announcement follows a series of strategic investments, including the development of NYSE Pillar, the state-of-the-art trading system, and extensive renovations to its 11 Wall Street trading floor and offices, including the Bell podium, and enhancements to its event and conferencing space designed to host world-class events for NYSE-listed companies.