Archipelago Holdings
From MarketsWiki
| Archipelago Holdings | |
| |
| Founded | 1994-2006 (merged with NYSE) |
|---|---|
| Key People | Co-founder, CEO and Chairman Jerry Putnam |
| Products | electronic stock exchange |
Archipelago Holdings owned the Archipelago Securities Exchange, one of the first electronic trading platforms to operate a national stock exchange. The company was later acquired by the New York Stock Exchange (NYSE) to form the NYSE Group.
Contents |
History
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Archipelago was co-founded in Chicago in 1997 by Gerald D. (Jerry) Putnam, founder of daytrader TerraNova Trading LLC, and Stuart Townsend, founder trading software developer Townsend Analytics Ltd.[1] The Archipelago Securities Exchange merged with the Pacific Stock Exchange in 2000 and later became a competitive threat to both the NYSE and NASDAQ.
Sell
In 2005 the NYSE announced a plan to buy Archipelago Holdings and concurrently form a demutualized, publicly-traded company then called NYSE Group and now known as NYSE Euronext. The deal gave Archipelago 30% of the shares in NYSE Group, valuing it at around $850 and the combined group at around $3 billion based on 2005 prices.[2] The original Archipelago Securities Exchange is now called NYSE Arca.
Key People
Former Archipelago Holdings CEO and Chairman Jerry Putnam later served as President and co-Chief Operating Officer at NYSE Euronext and is currently Senior Advisor of Corporate Strategy, Technology Integration & Derivative Products with the group.[3]
References
- ↑ Archipelago Holdings LLC. Ecommerce. Retrieved on May 14, 2008.
- ↑ NYSE applies quick fix. San Francisco Chronicle. Retrieved on May 14, 2008.
- ↑ NYSE Euronext, Inc.. BusinessWeek. Retrieved on May 14, 2008.
History
Products and Services
Key People
References
- ↑ Archipelago Holdings LLC. Ecommerce. Retrieved on May 14, 2008.
- ↑ NYSE applies quick fix. San Francisco Chronicle. Retrieved on May 14, 2008.
- ↑ NYSE Euronext, Inc.. BusinessWeek. Retrieved on May 14, 2008.
