Vying for volumes
Competition between US exchanges for equity derivatives business is fierce. And with lucrative trading activity drawing the New York Stock Exchange into the fray, the scrap for volumes is set to intensify. By Jayne Jung
With so many little black clouds hovering over it – a guilty plea of insider trading made by an ex-floor clerk, a class-action lawsuit led by a seat-holder and the attentions of New York attorney-general Eliot Spitzer – the New York Stock Exchange (NYSE) could use a ray of sunshine.
One of the positives on its horizon is the proposed merger with Archipelago, the Chicago-based electronic trading platform that owns the Pacific Stock Exchange – the fourth largest exchange by volumes for US equity
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