NYSE Arca
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| NYSE Arca | |
| Headquarters | New York, NY, USA |
|---|---|
| Web site | http://www.nyse.com/ |
NYSE Arca is a fully electronic stock exchange owned by NYSE Euronext, predicated on providing an open and fair market for emerging companies to expand. NYSE Arca has broader eligibility requirements [1] than some other stock exchanges that allow smaller companies to meet their listings standards.
Contents |
History
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NYSE Arca was originally the Archipelago Exchange, owned by Archipelago Holdings, which became part of the NYSE Group in 2006.
In 2005, Archipelago Holdings announced its intention to acquire PCX Holdings Inc., the parent of the Pacific Stock Exchange. The deal brought Archipelago the exchange's electronic system for trading stock options as well as the self-regulatory license that allowed the exchange to police itself. The deal also included PCX's 20-percent stake in the Options Clearing Corporation (OCC).
Categories of Listed Stocks
NYSE Arca lists Tier I companies [2] and Tier II companies [3].
- Tier I is designed for large capitalization mature companies. Federal securities laws provide that Tier I listed companies are exempt from all state registration requirements, known as "blue sky laws."
- Tier II is designed for smaller issuing companies. A listing on Tier II provides these issuers with exemptions from certain "blue sky" requirements.
References
- ↑ "NYSE Arca Listings”. www.nyse.com. Retrieved on Dec. 1, 2007.
- ↑ "Tier 1”. www.nyse.com. Retrieved on Nov. 29, 2007.
- ↑ "Tier II”. www.nyse.com. Retrieved on Nov. 29, 2007.
