June 2008
National Stock Exchange Appoints William K. Goodbody to NSX Boards
Tuesday, June 17, 2008
National Stock Exchange, Inc. (NSX®) today announced the appointment of William K. Goodbody, Jr. as an At-Large Director on the National Stock Exchange, Inc. Board. He was also appointed to the Board of NSX Holdings, Inc., the Exchange’s parent company.
Mr. Goodbody is a Director and Head of Market Structure and Exchange Strategy at Knight Equity Markets, LP, a subsidiary of Knight Capital Group, Inc. He also serves as Business Manager of Knight’s HotSpot FX, Inc. subsidiary. He fills a seat vacated by James P. Smyth, who recently resigned from the NSX Boards due to the time commitments of his position as Executive Vice President of Knight Capital Group, Inc.
“We welcome Bill to NSX’s Boards as he brings with him a strong background and knowledge of the securities industry,” said Joseph S. Rizzello, NSX Chief Executive Officer and Chairman of NSX Holdings, Inc. “His experience and input will bring an important dimension to NSX as we continue to execute our business plan and solidify our position as the nation’s most customer-focused, cost-effective securities exchange.”
In his current position at Knight, Mr. Goodbody is responsible for coordinating the firm-wide initiatives between Knight’s six broker/dealer subsidiaries and overseeing all market structure related issues such as quoting, trade reporting, market data and exchange related fees. He works closely with Knight’s Senior Management, IT, Trading, Compliance and Operations and serves as a liaison with Exchanges and other market participants.
Prior to his current position, Mr. Goodbody was First Vice President at Jefferies & Company and served as Director of Equities Sales and Trading Technology. Before that, he held various positions at Trimark Securities, which became part of the Knight/Trimark Group, predecessor to Knight Capital Group. He currently serves on SIFMA’s Equity Markets & Trading Committee and served on Nasdaq’s Exchange-Listed Trading Committee from 2000 through 2006.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX to Use SunGard's Brass Liquidity Services for Execution and Clearing
Tuesday, June 10, 2008
National Stock Exchange, Inc. (NSX®) will use SunGard's Brass Liquidity Services' dual routing infrastructure to route all traffic NSX directs to other venues for best execution obligations. NSX will also use SunGard's correspondent clearing services to support its clearing needs. NSX is a cost-effective provider of exchange services, committed to transparency, pricing leadership and partnering with its customers. SunGard's Brass Liquidity Services is a suite of market access solutions for both buy- and sell-side institutions, and includes sponsored access, directed and smart order routing, dark aggregation and advanced algorithms.
NSX will use Brass Sponsored Access, from SunGard's Brass Liquidity Services suite, to help it with Reg NMS-compliant, direct connectivity to protected venues, ECNs and dark pools*. Brass Liquidity Services' dual-routing infrastructure will help NSX fulfill both its best execution and Reg NMS obligations by supporting exchange requirements to route away flow to any of the Reg NMS protected venues showing a better price. Additionally, the dual structure will provide NSX with a backup routing infrastructure and a cross-platform failover mechanism. This will help ensure reliability and stability, especially during volatile trading conditions.
NSX will leverage Brass Sponsored Access' high-speed, low-latency direct connectivity to reduce the number of hops it takes to reach available, better-priced markets. By minimizing the number of hops, latency in the trade lifecycle is reduced, and will help NSX to better fulfill its best execution obligations. Correspondent clearing services will help NSX to increase post-trade efficiency, while decreasing infrastructure requirements and clearing and settlement costs.
Joseph Rizzello, chief executive officer of NSX, said, "We have a commitment to our clients to provide cutting edge technology and keep our cost structure low. SunGard worked with us to tailor a custom solution with competitive pricing that meets our own unique needs and will help us reduce our operational expenses. We look forward to the prospect this presents for offering our clients even more competitive pricing and we are particularly excited to provide SunGard's customer base with our low-cost solution."
Raj Mahajan, president of SunGard's trading business, said, "NSX and SunGard share a customer-centric focus and approach to running our businesses. We strive to present our customers with cost-effective, innovative solutions, across the entire trade lifecycle. NSX's selection of SunGard demonstrates how we strategically partner with our customers to provide tailored, complete solutions that support all areas of the business."
SunGard provides traders of US equities, commodities and listed options with Web-based, electronic trading platforms for trade order management, direct market access and risk and compliance management. SunGard's cross-asset solutions automate the transaction lifecycle, providing network connectivity and straight-through processing from pre- to post-trade. SunGard data analysis tools help improve the speed and ease of optimizing portfolios, assessing risk exposure, conducting alpha tests and identifying market opportunities. To learn more, visit: www.sungard.com/trading
About SunGard's Brass
An integrated trade and order management solution suite supporting Nasdaq, listed, listed market making and sales trading, Brass serves market makers, institutional brokers and traders working in a variety of roles. The suite includes a trade order management system; a set of direct market access tools as well as solutions for automated indications of interest and advertised trades; trade matching; and compliance analysis and reporting. Brass facilitates trade execution through connectivity with the buy-side community via the SunGard Transaction Network, through links with major back-office clearing firms, and through direct access to all major domestic exchanges and trading destinations.
About SunGard
With annual revenue of $5 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25,000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
*Brokerage products and services offered through Brass Liquidity Services, Brass Sponsored Access and Correspondent Clearing Services are provided by Assent LLC, member FINRA/SIPC.
Trademark Information: SunGard, the SunGard logo, and Brass are trademarks or registered trademarks of SunGard or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX Launches Cost Savings Calculator
Friday, June 6, 2008
National Stock ExchangeSM (NSX®) has introduced a new tool, the NSX Cost Savings Calculator, that enables customers to instantly calculate their annual Exchange/ECN fees and compare costs across marketplaces. Available on NSX’s website at http://www.nsx.com/content/nsx-cost-savings, the new Calculator underscores NSX’s commitment to full transparency.
“NSX’s Cost Savings Calculator enables our customers to quickly determine the impact different Exchange/ECN fees have on their costs on an annualized basis,” said Michael Traynor, NSX Chief Strategy Officer. “By simply entering their average daily volumes, customers can instantaneously approximate their costs and savings across major market centers. This quick and easy tool is another way NSX is bringing clarity to the issue of industry pricing, an area that has become increasingly difficult to monitor.”
Last month, NSX introduced the NSX Industry Pricing Matrix on its website, a simple grid designed to help the industry view up-to-date pricing schedules in a reader-friendly format. NSX’s Industry Pricing Matrix can be viewed at http://www.nsx.com/content/nsx-industry-pricing-matrix.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX Releases May ETF/ETN Data Report
Wednesday, June 4, 2008
National Stock ExchangeSM(NSX®) today announced that U.S. listed Exchange-Traded Fund (ETF) and Exchange-Traded Note (ETN) assets reached $623.6 billion at the end of May 2008, an increase of 25 percent over $498.6 billion at May 2007 month-end.
ETF net cash inflow for the month of May 2008 totaled $3.2 billion and notional trading volume during May 2008 totaled $1.4 trillion. The current number of U.S. listed ETFs has increased 44 percent to 767 compared to May 2007 when 532 ETFs were trading.
This data is included in NSX's May 2008 Month-End ETF/ETN Data Report released today. NSX began publishing Data Reports with the release of the June 2007 Report. These Data Reports are published following the end of each calendar month.
The NSX monthly statistics include shares of open-end exchange-traded products, encompassing listed shares of investment companies, grantor trusts, ETNs and commodity pools.
NSX's full report provides ETF data on Assets Under Management (AUM), Net Cash Flow and Notional Volume, broken out by Issuer, by Category, and the Top 10 ETFs by Size. To view this report go to: http://www.nsx.com/content/market-data.
In addition, NSX publishes a product-by-product breakdown of the 703 ETFs on which the data is based. The complete list can be accessed at: http://www.nsx.com/content/etf-product-list.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. Acknowledged for its proven high-performance, low-latency technology, NSX is also a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.