Archipelago was one of the original electronic communications networks (ECNs) approved by the SEC. It displayed prices and sizes of public stock order, but unlike its bigger competitors Instinet and Island ECN, it did so for free. Archipelago merged with the Pacific Stock Exchange in late 2000 to create a new stock exchange, Archipelago Securities Exchange, that would compete with Nasdaq and the New York Stock Exchange (NYSE). It was acquired by the NYSE Group in 2006.
It was taken public in a move that created a parent company, Archipelago Holdings.
Archipelago began as a venture between Terra Nova Trading LLC, a day trading firm in Chicago, and Townsend Analystics.
Products and Services
- Archipelago Holdings LLC. Ecommerce.