The 2006 merger of Archipelago Holdings and the NYSE formed a new holding company known as the NYSE Group. This new publicly traded, for-profit company combined traditional open outcry with electronic trading to form a hybrid system.
NYSE Arca comprises NYSE Arca Equities for the trading of exchange-listed equity securities and NYSE Arca Options for the trading of equity options.
NYSE Arca Equities is a fully electronic stock exchange offering trading in more than 8,000 exchange-listed equity securities, including listings on Nasdaq. The trading platform connects traders to multiple US market centers, providing customers with fast electronic execution and open, direct and anonymous market access.
The market structure of the stock exchange provides advantages of displayed and dark liquidity, transparency and efficiency.
Trades are processed on a price-time priority basis. Generally, fees are assessed for removing liquidity and rebates may be provided for adding liquidity. Complete details regarding NYSE Arca's pricing structure are available on the NYSE Euronext website.
Upon execution, trade details are transmitted to the National Securities Clearing Corporation (NSCC) for clearance and settlement via the Regional Interface Organization (RIO).
The hybrid options trading platform blends a traditional open outcry trading floor with electronic trading technology, offering trading in options contracts on domestic stocks, American Depository Receipts (ADRs), broad-based, industry and sector indices, exchange-traded products (ETPs) and HOLDRS.
NYSE Arca Options offers a price-time priority trading model and an anonymous, flat and open market structure. The exchange operates a maker/taker pricing model, charging a fee for liquidity-removing trades and providing a rebate for liquidity-adding transactions. Trades are guaranteed, centrally cleared and margined by the Options Clearing Corporation (OCC).