NYSE Arca Europe to launch US equities

NYSE Arca Europe to launch US equities

NYSE Arca Europe will admit US equities to its trading platform when it launches the components of the S&P 100 Index for trading during the second quarter of 2010.

EuroCCP will offer clearing services for these securities with settlement taking place via EuroCCP’s account at The Depository Trust Company, the US central securities depository and subsidiary of the Depository Trust and Clearing Corporation.

This service will provide trading firms the first-ever opportunity to trade US securities on a European platform during European trading hours with settlement at DTC.

Initially, S&P 100 stocks will be admitted to the platform; however, further stocks are likely to be introduced in the near future.

Virginie Saade (pictured), head of NYSE Arca Europe, says: “Our clients have shown a strong interest in being able to trade US stocks through NYSE Arca Europe, seeing this as a good business opportunity. As part of NYSE Euronext, we have been able to leverage the group’s knowledge and experience of the US market, as well as our relationship with EuroCCP, to help unlock the US stocks for our European clients for the first time, at low cost. This is an opportunity for us to create the first transatlantic trading platform and is an important step towards becoming a truly global MTF.”

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