Category Archives: NYSE

Yes, We Still Need World AIDS Day

By: Ray Pellecchia
File Under: NYSE Euronext

I was privileged to be at the Opening Bell ceremony yesterday for World AIDS Day (the day is today; yesterday was a curtain raiser). A group of about 40 people gathered in our Board Room before the bell, including Liza Minelli, a longtime AIDS research advocate; the designer Kenneth Cole (disclosure: he chairs the eponymous NYSE-listed company, as well as the leading research organization amfAR); members of our GLBT employee resource group and others.

There’s a certain buzz and excitement when you’re in the same room as Liza Minelli, but there was a sobering purpose to the proceedings. In his welcoming remarks, our COO Larry Leibowitz commented that AIDS has been with us so long now (about three decades) that today it is too often overlooked. But AIDS is still widespread, still deadly, and still growing. So it is incumbent on all of us to use AIDS Day to highlight the importance of finding a cure, promoting prevention and supporting those who are dealing with AIDS and HIV.

According to amfAR, in the nearly 30 years since the first AIDS cases were identified, more than 60 million people have contracted HIV, and more than 25 million have died from AIDS-related causes. Some 1.8 million died in 2009; of those, 260,000 of them were under the age of 15.

There are now more than 33 million people living with HIV or AIDS. And every day, there are more: more than 7,000 people contract HIV on average each day. That’s 300 every hour.

Those of us in business have powerful motivation to join the fight against HIV and AIDS: These diseases directly impact our employees, our customers, and more broadly all of the communities in which we operate. Just as important: We have the resources to make an impact.

How can you help? On the company level, there’s the Global Business Coalition on HIV/AIDS, Tuberculosis and Malaria (disclosure: NYSE Euronext is a member). On the individual level, you can support the research led by amfAR. On World AIDS Day, let’s remember that there’s still a need, and that all of us can make a positive difference.

Article source: http://feedproxy.google.com/~r/hybridtalk/~3/uQn7CGEuPBI/aids_day.php

NYX 360 — 29 Nov.

By: Ray Pellecchia
File Under: NYSE Euronext

NYX 360 aggregates news, views and just-plain-interesting stuff from within and without NYSE Euronext (NYX). We add items throughout the week, so you can check back for updates any time.

Friday, 3 December, 2010

BlueNext exchange introduces spot emissions-reduction units (Bloomberg)

NYSE Euronext to present at Keefe, Bruyette Woods Securities Brokerage and Market Structure conference (NYX)

Exchanges reportedly seeking to extend pilot for single-stock circuit breakers (Bloomberg)

NYSE Christmas tree lighting next Tuesday! (NYX)

On this day in 1927: To avoid stock ticker delays, an abbreviated system of reporting quotes was inaugurated that omitted the leading figure of the stock price during heavy trading. (NYX)

Thursday, 2 December, 2010

Currency trader FXCM rises in NYSE debut (Reuters)

Spanish media giant Prisa to list on NYSE on Friday (AFP/Expatica)

EU plans to curb off-exchange markets (FT Trading Room)

Electronic trading grows at NYSE Amex options (Traders)

Medifast and Marines storm NYSE for Toys for Tots (Medifast)

NYSE Euronext to announces fourth-quarter and full-year 2010 earnings on 8 Feb. 2100 (NYX)

And, we’ll present at Goldman Sachs U.S. Financial Services Conference (NYX)

“In Paris, Brussels, Lisbon, and Amsterdam, Light for Rights coalition partners rang the opening bells of each city’s NYSE Euronext exchanges” (United Nations)

NYSE lit in red for World AIDS Day (Getty/India Times)

Scenes from a trading floor (AP/ABC)

The Bettys elf themselves with OfficeMax at NYSE (Betty Confidential)
Now, could someone please explain to me who the Bettys are?

Wednesday, 1 December, 2010

Exchanges race to cut trading-data lag (WSJ)

UBS announces UBS E-TRACS Daily Long-Short VIX ETN (UBS)

IPO money raised in quarter nears global record (WSJ)

Walker Dunlop set to raise more than expected from IPO (WSJ)

Swift Transportation sets terms for $942 million IPO (Reuters)

Avalon Rare Metals to list on NYSE Amex (Avalon)

Options trading up 33% in November, biggest jump this year (Bloomberg)

Liza fist pumps at NYSE for World AIDS Day (Gothamist)

On this day in 1874, regular trading hours were established at NYSE: 10 a.m. to 3 p.m. weekdays; 10 a.m. to noon Saturdays. (NYX)

Tuesday, 30 November, 2010

FXFM plans to sell 15.1 million shares in NYSE-listed IPO for $13-$15 each, raising up to $225.9M (Canadian Business/AP)

Citi to ring the Bell to celebrate NYSE Arca listing of C-Tracks exchange traded notes (Citi)

College student wins ‘money makeover’ competition sponsored by HigherOne and NYSE Euronext (News Gnomes)

Liza Minelli, Kenneth Cole, Cheyenne Jackson add star power to amfAR’s AIDS Day bell at NYSE (NYX)

Credit default swaps on the wane, for now (FT Alphaville/Bloomberg)

Scenes from (outside) a trading floor (Bernard Oh/Flickr)

Excavating finance’s past: what lessons does history hold for today’s advisors (Research magazine/AdvisorOne)

On this day in 1964, an NYSE study of block transactions revealed the average block trade involved 26,100 shares, valued at $948,200. (NYX)

Monday, 29 November, 2010

Scott Cutler: Best IPO window this year is coming up (WSJ)

Women’s Bond Club, NYSE Euronext host diversity roundtable (WBC)

NYSE, other global landmarks to be lit in (RED) on World AIDS Day, 1 Dec.(Join RED)
At NYSE Euronext we’ll be wearing red too, to show our support!

Climate bourses eyeing China carbon market (Commodity Online)

GM’s $23.5 billion IPO is biggest ever (Bloomberg/AFR)

Targa Resources commences IPO (Targa press release)

Photo gallery from the GM IPO (Vancouver Sun)

Kid Dynamite on understanding GLD, part 3 (Seeking Alpha)

The president’s daily market report (Felix Salmon/Reuters)

Scenes from a trading floor, on Kids Day (AP/Ft. Wayne Journal Gazette)

Laughs of the day courtesy of the late, great Leslie Nielsen (Paul Kedrosky)

Comments

Thanks Ray!!!

Will pass along. Glad to see NYSE continues to move this global discussion forward.
@fleejack

Women’s Bond Club, NYSE Euronext host diversity roundtable – http://bit.ly/eJ31jM

by Fields on November 29, 2010 11:14 AM


Article source: http://feedproxy.google.com/~r/hybridtalk/~3/jL4FPVX-doQ/nyx_360_29_november3_december_2010.php

A Bloggy Birthday, an End, and a New Beginning

By: Ray Pellecchia
File Under: NYSE Euronext

Time out for a little housekeeping here. On 5 December 2010, this humble, little corporate blog turns 5 years old.

What better time to blow it up and start anew?

The Exchanges blog ends today but is replaced – same day — with one I expect will prove to be a much richer, more vibrant forum for conversation between NYSE Euronext and you, our community.

The url for this new blog platform called NYSE Exchanges is http://exchanges.nyx.com. Please join me in the Universal Prayer for Technology Launches that begins, “Lord, please let this thing please work, and give us the strength not to kill ourselves if it’s a little balky on Day One.” I ask you to please bear with any radio silence or difficulties that often accompany techbirth.

The NYSE Exchanges platform will make it much easier for us out other voices from our diverse businesses, from derivatives to equities to technologies. When you go to the new page, you’ll see that my own blog will be called Open Interest, and that our regular NYX 360 feature will spin out into its own blog. You can read more about what I’ll be focusing on in my first post on the “other side.” And you’ll begin seeing new blogs from a number of my BWCs (blog writing colleagues).

One more housekeeping item: Our subscription capability will not be ready on day one. I know that’s user-unfriendly and I apologize for it, but for now I have to ask our loyal subscribers (and may I say, bless every one of you), to bear with the inconvenience of checking in on us when you can. Will keep you posted on our progress on that front; I’m told the ETA is sometime next month. Beyond that, we’ll be trying to create content compelling enough that you’ll want to come back again and again.

I kinda feel like the astronauts in “Apollo 13,” when they had to cut loose the lunar module that had kept them alive with makeshift solutions, but could not get them where they ultimately needed to go – back to Earth. They move into the re-entry capsule and look out the window at the lunar module drifting off into space and one of them says, “She sure was a good ship.”

That’s how I feel about Exchanges, and HybridTalk before it. No, not that they saved my life. But in a few weeks we will let the archives of Exchanges and HybridTalk go dark, out of necessity, and I feel a keen sense of gratitude for their getting us to where we are today – a new beginning. So before cutting all of this loose and moving on, let me say some quick words of appreciation:

• My colleagues who built and maintained Exchanges and HybridTalk created something that had never been done by an exchange company, and helped show how we can communicate in a new, more engaging way through technology.

• Many colleagues helped me field detailed questions and explain the evolution of our markets over these last five years. Out of the 1,291 posts on HybridTalk and Exchanges (a tick better than one per business day), I’d guesstimate that at least 25 percent required at least some fact checking if not an hour or two of a colleague’s time to explain something like how a particular order works. Their generosity with their time and expertise helped demystify markets.

• Other colleagues did manage to add their own voices to Exchanges, which required endless patience with its clunky internal permissioning and interface. They began to demonstrate the depth and breadth of our people and businesses, and I look forward to seeing them and many others on NYSE Exchanges. Also, props to our lawyers, who gave us guidance and trusted the reins in our hands.

• Most of all, our readers. For putting up with my bad jokes. For helping me learn new points of view about markets. For all the calls, e-mails and comments that let me know that someone out there besides my Uncle Johnny was reading. For stopping me at conferences and saying things like one trader actually said: “Hey, you’re that crazy SOB who blogs for the New York!” Blogging is not a sprint but a marathon, and all of that is all that ever keeps me going.

As the Wall Street saying goes, the tape keeps moving, right to left. Time to put this one on the tape, and keep moving. As always, your comments are welcome on the space below. Thanks again, and see you on the new NYSE Exchanges platform!

Comments

Nobody nose blogging like you do! Happy Birthday!

by Steven Poser on December 3, 2010 5:45 PM

Ray,

Well done!!

I look forward to your new site. As far as your old platform – I am one of it’s biggest fans. You and the many who provide support – do a great job of collecting, informing and sharing. Keep the news coming – I make a point to check the NYSE blog every day.

by Fields on December 3, 2010 8:45 PM

Ray,

This has been a good site and you have been a good and humble blogger. I remember a few years back when you were invited to be a keynote speaker at an event that was attended by a number of your exchange colleagues.

Look forward to seeing what is coming up at NYSE Exchanges.

By the way, some say Apollo 13 would not have made it back without duct tape. Keep a roll around just in case you have problems with the new site.

Regards,

Bart Ward

by Bart Ward on December 6, 2010 1:02 PM

Steve — Thanks, and hey, I’ll do the nose jokes around here!

Fields — Appreciate the longtime support, as well as your helping to spread the word.

Bart — Sincere thanks for all your contributions. And I’m with you on the duct tape — many times we’ve used it to hold the blog together!

by Ray Pellecchia on December 7, 2010 11:28 AM


Article source: http://feedproxy.google.com/~r/hybridtalk/~3/HiBxjqgns6M/end_beginning.php

Check Out the Growing Band of Bloggers at NYSE Exchanges

By: Ray Pellecchia
File Under: NYSE Euronext

Popping back onto our old about-to-go-dark platform for just a minute to gently remind you that our band of bloggers grows bigger by the day on our new NYSE Exchanges platform. C’mon by and check out:

Clarke Camper: Betting on the Obama-GOP compromise; Financing Small Business; Federal Deficit Commission Votes: Fleeting Moment or Historic First Step?; QE2: Not Everyone Thinks It’s a Loser

Bruce Boytim: Direct Market Access Resurfaces

Marisa Ricciardi: World AIDS Day at NYSE Euronext

Scott Cutler: Scott’s State of the IPO Market on CNBC

Ali O’Rourke : Announcing Earnings; SEC Short Sale rule postponed; Data management company NetApp trading halted

Feargal O’Sullivan: Fresh Start – Quick Review

— And Your Ol’ Humbleness: Exchanges Move to Extend Individual-Stock Circuit Breakers; Trading Costs Decline Globally; Of Markets, Blogs and Renewal: Welcome to NYSE Exchanges

— Not to mention the daily NYX 360 aggregation post. (No extra charge!)

In just a week’s time, that’s more bloggers on more topics than we’ve ever had before, and more are joining up all the time.

Drop a line and let us know what you think. Share a point of view. Be candid. Like, “Ray, I think there’s way too much nose in your new photo.” Go ahead, don’t worry — nothing I haven’t heard before!

We’re looking forward to talking with you on NYSE Exchanges.

Article source: http://feedproxy.google.com/~r/hybridtalk/~3/9w3DSzVOXjo/band_of_bloggers.php

NYSE Euronext Announces Major Enhancements to NYSE BondsSM Platform

 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.

# # #

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.

Disclaimer
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.

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/NWc4iv2flFI/1291808468864.html

NYSE Euronext Welcomes MIXIT to Top Rank of ‘Power Partners’ Customer Rewards Program

MIXIT Becomes First ‘Three-Portal’ Power Partners Member

NEW YORK, Dec. 8, 2010 – NYSE Euronext has announced that MIXIT has become the first “three portal” member of its Power Partners ProgramTM, which recognizes companies that partner with NYSE Euronext to best meet the needs of mutual customers by providing the highest levels of services and products.

Inclusion in the Power Partners Program is based on customers’ usage of NYSE Euronext markets and NYSE Technologies data, products and services.  Applicants are evaluated based on criteria specific to their business type.  Initially, the program is available to U.S. data vendors, broker-dealers, retail brokers, order management systems, execution management systems and service bureaus. 

Power Partner designations range from one to three portals; the more criteria met, the higher the number of portals and the greater the marketing rewards for the Power Partner.  Marketing rewards include varying levels of advertising opportunities, visibility at Trader Forums, public relations, and recognition on NYSE Euronext websites. 

MIXIT is a broker-neutral, multi-asset trading platform that offers an Order/Execution Management System (OMS/EMS) and FIX connectivity to the financial services industry.  MIXIT’s integrated suite of technology supports institutional and broker-to-broker-based trading across Equities and Options.  The MIXIT routing network encompasses all major Algorithms, Exchanges, Brokers, Crossing Venues and Dark Pools.  They offer electronic, real-time trading solutions, including Front-, Middle-, and Back-Office products, in addition to Compliance reporting. 

“We are pleased to welcome MIXIT to the NYSE Euronext Power Partners Program as a three-portal partner.  To achieve this status, MIXIT added several key NYSE and NYSE Arca routable order types to their OMS/EMS offering which are now available to our mutual clients,” said Janna Hodge, Senior Vice President, Relationship Management.

“The achievement of becoming the first three Portal level member of the NYSE Power Partners program demonstrates our commitment to provide unparalleled access to NYSE services for our customers,” said Walter Fitzgerald, President and CEO.   “Our customers require sophisticated tools to allow them to compete in the markets and MIXIT will continue to be proactive in providing these tools.  Attaining this level with a world class marketplace is something we are all proud of at MIXIT.”

Power Partners are encouraged to promote their accomplishment by using one of the three Power Partner emblems on their website and marketing materials.  Following are links to pdf images of the three emblems: 

http://www.nyse.com/pdfs/PowerPartners1.pdf

http://www.nyse.com/pdfs/PowerPartners2.pdf

http://www.nyse.com/pdfs/PowerPartners3.pdf

NYSE Euronext plans to expand the Power Partners Program to include additional markets globally.  For more information, visit: http://www.nyxdata.com/powerpartners or e-mail powerpartners@nyx.com.

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.

Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2009 (“document de référence”) filed with the French Autorité des Marchés Financiers (Filed on April 22, 2010 under No. D.10-0304), 2009 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein. 

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/a1ew-sZXv6Q/1291808469020.html

Youku.com Inc. Celebrates its IPO on the New York Stock Exchange

On Wednesday, December 8, executives and guests of Youku.com Inc., a leading Chinese Internet television company, visited the New York Stock Exchange to celebrate the company’s initial public offering which raised $202.85 million in gross proceeds.  The Company’s American Depositary Shares began trading today, Wednesday, December 8, on the NYSE under the ticker symbol “YOKU.”

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.

Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2009 (“document de référence”) filed with the French Autorité des Marchés Financiers (Filed on April 22, 2010 under No. D.10-0304), 2009 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/jBIV7a4uRkY/1291721618435.html

Quiksilver , Inc. (NYSE: ZQK), states that its policy is not to comment on unusual market activity or rumors

In view of the unusual market activity in the common stock of Quiksilver , Inc. (NYSE: ZQK), the NYSE has contacted the company in accordance with its usual practice; the company stated that its policy is not to comment on unusual market activity or rumors.

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/db5S1qVD3eg/1291894920516.html

NYSE to Suspend Trading in The Great Atlantic and Pacific Tea Company, Inc. and Related Securities

Moves to Remove from the List

NEW YORK, December 13, 2010 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of The Great Atlantic and Pacific Tea Company, Inc. (the “Company”) – ticker symbol GAP – as well as its 9 3/8% Senior Quarterly Interest Bonds due August 1, 2039 (QUIBS) – ticker symbol GAJ – should be suspended immediately.

NYSE Regulation has determined that the Company is no longer suitable for listing.  This decision was reached in view of the Company’s December 12, 2010 announcement that it has filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code with the U.S Bankruptcy Court for the Southern District of New York.  NYSE Regulation noted the uncertainty as to the timing and outcome of the bankruptcy process, as well as the ultimate effect of this process on the Company’s common stockholders. 

The Company has a right to a review of this determination by a Committee of the Board of Directors of NYSE Regulation. Applications to the Securities and Exchange Commission to delist the issues are pending the completion of applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision.  The NYSE noted that it may, at any time, suspend a security if it believes that continued dealings in the security on the NYSE are not advisable.

Investor Contact:
Krystyna Lack
Vice President, Treasury Services
(201) 571-4320

 

Press Contacts:
Eric C. Andrus or Scot Hoffman
Robinson Lerer Montgomery

(201) 571-4453

See Section 802.00 of the NYSE Listed Company Manual for continued listing criteria and procedure for delisting

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/9jsOF10Ur7w/1292238353986.html

NYSE Member Firms Report Third-Quarter 2010 Results

File not found.

Article source: http://feedproxy.google.com/~r/nyse/FmBb/~3/E2O_9Eftf0o/1292238355797.html

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