NYSE Arca Europe

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NYSE Arca Europe is NYSE Euronext’s pan-European Multilateral Trading Facility (MTF). NYSE Euronext announced its successful launch on March 9, 2009. It offers trading in the European cash regulated markets in Belgium, France, the Netherlands and Portugal as well as blue-chip stocks from certain European countries.[1]

The exchange offered free trading until April 2009 as part of a three-week-long launch promotion. After the promotion ended, it began charging both for posting and taking liquidity, making it the only displayed MTF without a maker-taker pricing model.[2]

The exchange is a product of the arrival of MiFID in November 2007, which allowed market participants to offer a trading service without listing on a pan-European basis, thus giving NYSE Euronext the ability to enter trading areas in which it was not previously active.

NYSE Euronext already offers trading in Belgian, Dutch, French and Portuguese securities. NYSE Arca Europe will extend its reach by including trading in a selected group of pan-European blue-chip stocks from 10 countries.

NYSE Arca Europe is powered by Euronext's Universal Trading Platform. [3]

The exchange plans to phase in stocks from 10 countries to cover Austria, Denmark, Finland, Germany, Ireland, Italy, Norway, Sweden, Switzerland and the UK. EuroCCP will provide post-trade services at launch; NYSE Euronext is pushing to encourage interoperability by working with three other CCPs – European Multilateral Clearing Facility (EMCF), LCH.Clearnet and SIX X-clear – to provide customers with a choice of CCP in future.

In April 2010, the exchange announced it also plans to offer trading in components of the S&P 100 Index for trading in the second quarter.[4]

On April 4, 2014, Financial News reported that NYSE Euronext would shut down NYSE Arca Europe on May 2. [5]

Key People

On Sept. 3, 2010, the company confirmed that Lee Hodgkinson would be appointed head of NYSE Arca as of September 6, replacing Virginie Saade, who is joining Getco Execution Services in Europe as head of sales. [6]

References

  1. Successful Launch of NYSE Arca Europe. NYSE Euronext.
  2. NYSE Arca Europe bucks maker-taker pricing trend. The Trade News.
  3. NYSE Arca Europe. Euronext.
  4. European trading platforms to offer US stocks. The Financial Times.
  5. Euronext to close NYSE Arca Europe. Financial News.
  6. Hodgkinson extends influence at NYSE Euronext. The Trade News.