August 2008
NSX Announces DAS Trader Connectivity
Tuesday, August 26, 2008
National Stock Exchange, Inc. (NSX®) today announced that DAS Trader has become a certified Order Management System (OMS) for routing transactions to NSX, complementing the other order routing systems currently utilized by the exchange. DAS Trader is a Direct Access Software (DAS) technology offered to broker-dealers, clearing firms, hedge funds, trading desks, and proprietary and offshore institutions to enable them to execute transactions on U.S. stock exchanges.
“By adding connectivity to DAS Trader, NSX’s customers now can access all of DAS’s products, such as DAS Black Box, DAS/WEB and DAS/PRO,” said James Kearney, NSX Senior Vice President, Business Development and Client Relations. “DAS trading products integrate with our customers existing systems to help reduce costs and improve efficiency and enable our customers to take advantage of NSX’s liquidity, cost-effective pricing and low latency.”
“We have worked hard to make our technology the most reliable and efficient system available to traders,” said Karen Gentile, President of DAS, Inc. “We built our system based on input we receive directly from traders and our clients as to what they are looking for in a direct access platform such as easy to use, speed, reliability and choice of routing. By adding connectivity with important market centers, such as NSX, we are giving our clients the same tools that professional market makers are already using to make informed trading decisions.”
About DAS Trader
The DAS Trader technology has been in development since 2002 and provides complete online brokerage solutions including direct access trading applications, browser-based trading, back-office order management systems, market data feeds, historical data, and API execution services. DAS Trader Products integrate with most firms existing systems to reduce costs and improve efficiency. The technology is developed by DAS, Inc. a Nevada corporation with office in Carmel, NY. Website: www.directaccesssoftware.com.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. A driving force for change in the world of securities exchanges, NSX continues to provide pricing leadership and promote transparency in the industry. Acknowledged for its proven high-performance, low-latency technology, NSX is also becoming a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
NSX Releases July ETF/ETN Data Report
Thursday, August 7, 2008
National Stock ExchangeSM (NSX®) today announced that U.S. listed Exchange-Traded Fund (ETF) and Exchange-Traded Note (ETN) assets reached $592.7 billion at the end of July 2008, an increase of 19 percent over $497.3 billion at July 2007 month-end.
ETF/ETN net cash inflows for the month of July 2008 totaled $14.2 billion and notional trading volume during July 2008 totaled a monthly record of $2.5 trillion. At the end of July 2008, the number of listed products totaled 814, up 44 percent from the 565 products listed at the end of July 2007.
This data is included in NSX's July 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 814 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. A driving force for change in the world of securities exchanges, NSX continues to provide pricing leadership and promote transparency in the industry. Acknowledged for its proven high-performance, low-latency technology, NSX is also becoming a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.
National Stock Exchange Names John J. McCoy
Chief Legal Officer and General Counsel
Monday, August 4, 2008
National Stock Exchange, Inc. (NSX®) today announced the appointment of John J. McCoy as Chief Legal Officer and General Counsel, effective August 1, 2008. Mr. McCoy has served as primary outside Legal Counsel for NSX for the last 10 years as a Partner with the law firm Taft Stettinius & Hollister LLP.
“John has played an integral role in the recent evolution of NSX, providing expert legal counsel as NSX developed its new business model and transformed into a new entity,” said Joseph S. Rizzello, Chief Executive Officer of NSX. “He brings a unique depth of knowledge about the securities industry, the Exchange space and, specifically, NSX. We are extremely pleased to welcome him as a valued addition to the NSX management team.”
Mr. McCoy had been a Partner at Taft Stettinius & Hollister LLP since 1985, most recently as a member of the Business and Finance Department, where he represented public and closely held businesses. His experience has focused in the areas of securities, securities markets regulatory matters, mergers and acquisitions, corporate governance, and banking and finance. He served as a member of the firm’s Executive Committee and as manager of TSH Operating Ventures, which operates the firm’s ancillary business units. Prior to joining the law firm's Business and Finance Department, he practiced in the firm's litigation group, gaining extensive first chair trial and appellate experience in securities, business, construction and First Amendment cases. He served as counsel to several public companies, in addition to serving as outside General Counsel to NSX as needed.
Mr. McCoy is listed in The Best Lawyers in America by Woodward/White, Inc. and has been named an Ohio Super Lawyer by Law & Politics Magazine. He received his Bachelor of Science degree in mathematics (summa cum laude) from Xavier University and his law degree from the University of Chicago School of Law. He is admitted to the bars of Ohio, various U.S. district courts and courts of appeals, and the United States Supreme Court.
NSX is the cost-effective provider of exchange services, committed to aligning its interests with those of its customers. A driving force for change in the world of securities exchanges, NSX continues to provide pricing leadership and promote transparency in the industry. Acknowledged for its proven high-performance, low-latency technology, NSX is also becoming a recognized resource for Exchange-Traded Fund (ETF) data. For more information on NSX, visit www.nsx.com.