– Retail Investor-focused Platform Creates New Liquidity Program Expected to Launch in Q1 2011 –
– Greater Visibility on Markets and Liquidity –
– Limit-Order Functionality Allows Retail Investor Interaction –
New York, December 8, 2010 ─ NYSE Euronext today announced major enhancements to its fixed income trading platform, NYSE BondsSM. They include the new Bond Liquidity Provider (BLP) program that will improve liquidity and provide price transparency to retail investors. The proposed enhancements remain subject to approval by the U.S. Securities and Exchange Commission, following the usual public comment and review period.
The program, which the company expects to launch in first-quarter 2011, will include multiple bond dealers. Each dealer will cover specific NYSE listed companies, and will be responsible for posting live bids and offers of a minimum size on the outstanding corporate bonds of those companies.
“This is a step forward in providing fixed-income price transparency to retail investors through an inclusive, open-access fixed-income exchange,” said Kevin Molloy, Managing Director, Fixed Income, NYSE Euronext. “By providing live executable quotes, NYSE Bonds will provide retail end users equal access to the same trading information and quality of markets. This new program reflects the input of leading participants in fixed-income markets, and we are grateful for their participation.”
Designed to improve transparency and efficiency in bond trading for retail investors, the NYSE Bonds platform offers customers instantaneous, real-time electronic access to aggregated best price information as well as direct interaction with the marketplace through limit order functionality. NYSE Bonds will maintain and match orders on a strict price-time priority basis with reports, quotations and trade prices available on an absolute real-time basis. Publicly available, real-time quotes will help trading firms meet best execution obligations, with the aim to enhance retail investors’ participation.
NYSE Euronext initially submitted its proposed new rules for NYSE Bonds to the SEC earlier in 2010. The NYSE Bonds relaunch further diversifies the range of asset classes available for trading on NYSE Euronext markets.
For more information on NYSE Bonds including a complete directory of bonds, prices, most actively traded issues and a glossary, please visit: http://www.nyse.com/bonds.
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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 Amex, 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 SP 500 index, and is the only exchange operator in the SP 100 index and Fortune 500. For more information, please visit: http://www.nyx.com.
NYSE Euronext and its affiliates do not recommend or make any representation as to possible benefits from any securities or investments, or third-party products or services. Investors should undertake their own due diligence regarding their securities and investment practices. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.