ArcaEdge

NYSE Euronext

ArcaEdge

ArcaEdge is an alternative trading system (ATS) for trading over-the-counter (OTC) equity securities. The electronic platform is the longest-serving ATS within the OTC Bulletin Board (OTCBB).

The ArcaEdge system identifies OTC equity securities available for immediate quotation and handles orders from subscribers by both electronic and manual processes for execution.

ArcaEdge executes all market orders or marketable limit orders based on best-price methodology, instantly executing orders against the ArcaEdge book at prices equal to or better than the National Best Bid or Offer (NBBO), or placing orders into the ArcaEdge routing process to achieve the NBBO.

Any unexecuted or partially unexecuted orders are entered in the ArcaEdge book and ranked on a strict price/capacity/time priority basis and displayed per the client’s instructions. There are no execution costs for orders that add liquidity. Executions that remove liquidity are assessed a fee.

After an order has been executed broker-dealers can choose to clear trades through Automated Confirmation Transaction Service (ACT) or through Qualified Special Representative (QSR).