July 2007
NSX Accounts for 19 Percent of Industry Quote Volume
Monday, July 30, 2007
National Stock Exchange Caps Off Record Week Accounting for 19 Percent of Industry Quote Volume
Averages Record 76.6 Million Matched Shares Per Day in NSX BLADE; Reaches
All-Time High on July 26 of 124.4 Million Shares Matched in NSX BLADE
CHICAGO, July 30, 2007 - National Stock Exchange®, Inc. (NSXSM) today announced that it processed 19 percent of the industry's quote volume for the week of July 23 through July 27, 2007. Since the start of full industry compliance with Regulation NMS on July 9, 2007, NSX has accounted for an 18.7-percent market share of the nation's quote volume.
Joseph Rizzello, NSX CEO and Chairman of NSX Holdings, Inc., said, "Since the full-scale launch of our new business plan in January 2007, our goal was to respond to our customers' demand for a cost-effective exchange platform on which to conduct their business. That NSX is handling 19 percent of all quote traffic demonstrates the meaningful way in which we are aggregating liquidity and enhancing price discovery in the U.S. markets.
"We are gratified that our unique model is enabling all of our customers to carry out their own business objectives - with some continuing to achieve new volume milestones. Their success is a strong indication that we are successfully executing against our business plan and reinforces our commitment to aligning our interests with those of our customers and strategic investors," Mr. Rizzello said.
Daily volume in NSX BLADESM averaged 76.6 million shares for the week of July 23 through July 27, reaching a record 124.4 million shares on July 26, the highest level since the system was launched on October 23, 2006. Trades on NSX BLADE reached an all-time high of 364,557 per day for the same week period.
NSX BLADE offers strict price-time priority, order delivery, unprecedented speed and highly competitive pricing due to NSX's unique operating leverage. The platform was built from the ground up to meet the speed, price and service needs for a post-Regulation NMS environment and to accommodate the broadest range of users, including ECNs, algorithmic traders and agency brokers.
(Quote data is based on market data feeds from the SIPs)
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 Gets SEC Approval For 100-Percent Rebate on Exchange-Matched Trades
Thursday, July 12, 2007
National Stock Exchange Receives SEC Approval of Rule Change Increasing Rebate to 100 Percent of Market Data Revenue Earned from Trades on NSX BLADE: NSX Is First Exchange to Receive Approval For 100-Percent Rebate on Exchange-Matched Trades
CHICAGO, July 12, 2007 - National Stock Exchange®, Inc. (NSXSM) has received accelerated approval from the Securities and Exchange Commission (SEC) to increase its transaction credit to 100 percent from 50 percent of revenues generated by trades on NSX BLADESM for Tape A (NYSE-listed), Tape B (Amex and Regional-listed) and Tape C (Nasdaq-listed) securities.
NSX's proposed rule change, approved by the SEC on July 3, was published yesterday in the Federal Register and is retroactive to April 1, 2007. NSX is the first stock exchange to receive approval for a 100 percent rebate on market data revenues earned from trades matched on an exchange.
"Being first to share 100 percent of market data revenue for Exchange-matched trades is consistent with NSX's history as an industry price leader and our commitment to putting customers first," said Joseph Rizzello, NSX CEO and Chairman of NSX Holdings, Inc. "This 100 percent rebate should enhance competition in the trading of Tape A, B and C securities, lowering the cost of trading to broker-dealers."
NASD, which has contracted with NSX to operate the NASD/NSX Trade Reporting Facility (TRF), has also filed for an increase to 100 percent from 50 percent of market data revenue earned from trades on the NASD/NSX TRF for Tape A, Tape B and Tape C securities. This filing is pending before the SEC.
NSX's new state-of-the-art technology platform - NSX BLADESM and NASD/NSX TRF - was built from the ground up to meet the speed, price and service needs for a post-Regulation NMS environment and to accommodate the broadest range of users, including ECNs, algorithmic traders and agency brokers.
NSX BLADE offers strict price-time priority, order delivery, unprecedented speed and highly competitive pricing due to NSX's unique operating leverage. The NASD/NSX TRF facilitates trade reporting for internally executed OTC transactions. Both NSX BLADE and the NASD/NSX TRF are fully functional for all Tape A, Tape B and Tape C stocks.
NASD is a registered trademark of National Association of Securities Dealers, Inc.; NASD/NSX is used under license from NASD.
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.
National Stock Exchange Begins Publishing Key Monthly ETF Data
Thursday, July 5, 2007
NSX Announces June 2007 ETF Assets Reach $499.2 Billion at Month-End, Up 42.3 Percent From Year Earlier
CHICAGO, July 5, 2007 - National Stock Exchange® (NSXSM) today launched the publication of month-end data reports on U.S. listed Exchange-Traded Funds (ETFs). Beginning with the June 2007 Report issued today, NSX will publish this key ETF data promptly following the end of each calendar month.
In its first published ETF Data Report, NSX today announced that at the end of June 2007, U.S. listed ETF assets reached $499.2 billion, up 42.3 percent from $350.7 billion at the end of June 2006. ETF notional trading volume totaled a record $1.2 trillion in June 2007, approximately 25 percent of the total U.S. cash equity notional trading volume.
Net cash flow into ETFs at the end of June 2007 totaled $32.8 billion year-to-date, up 15.6 percent over the same year-ago period.
"With the number of U.S. listed ETFs on the rise and investor interest continuing to grow, these products represent an increasing proportion of trading activity in the cash and derivative markets," said Joseph Rizzello, Chief Executive Officer of NSX. "As a national securities exchange, NSX has a responsibility to deliver services and information where they are most needed. Given the phenomenal growth of these instruments, it is our intention to serve as a resource for ETF data by providing timely, comprehensive information useful to both investors and the ETF industry as a whole."
The NSX monthly statistics include shares of open-end exchange-traded products, including listed shares of investment companies, grantor trusts, Exchange-Trades Notes (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. View NSX's full ETF Data Report at: http://www.nsx.com/content/market-data.
The monthly ETF Data Reports add a new dimension to services offered by NSX to meet the changing needs of investors. In 2006, NSX implemented a new business strategy, which culminated in the last quarter of the year with the launch of an entirely new state-of-the-art technology platform. The new platform was built from the ground up to meet the speed, price and service needs in a post-Regulation NMS environment. It was designed to accommodate the broadest range of users, including ECNs, algorithmic traders and agency brokers.
To view NSX's monthly ETF Data Reports, go directly to: http://www.nsx.com/content/market-data.
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.