forex exchange

The obvious advantage of carrying around 'precious' paper versus carrying around bags of precious metal was slowly recognized through the ages. Eventually stable governments adopted paper currency and backed the value of the paper with gold reserves. This came to be known as the gold standard. The Bretton Woods accord in July 1944 fixed the dollar to 35 USD per ounce and other currencies to the dollar. In 1971, president Nixon suspended the convertibility to gold and let the US dollar 'float' against other currencies.
Since then the foreign exchange market has developed into the largest market in the world with a total daily turnover of about 3.2 trillion USD. Traditionally an institutional (inter-bank) market, the popularity of online currency trading offered to the private individual is democratising forex and widening the retail market.

Foreign exchange

In order to gain a complete understanding of what forex is, it is useful to examine the reasons that lead to its existence in the first place. Exhaustively detailing the historical events that shaped the foreign exchange market into what it is today is of no great importance to the Fx trader and therefore we will happily omit explanations of historical events such as the Bretton Woods accord in favor of a more specific insight into the reasoning behind foreign exchange as a medium of exchange of goods and services.
Originally our ancestors conducted trading of goods against other goods this system of bartering was of course quite inefficient and required lengthy negotiation and searching to be able to strike a deal. Eventually forms of metal like bronze, silver and gold came to be used in standardized sizes and later grades (purity) to facilitate the exchange of merchandise. The basis for these mediums of exchange was acceptance by the general public and practical variables like durability and storage. Eventually during the late middle ages, a variety of paper IOU started gaining popularity as an exchange medium.

TERMS OF USE

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History

he New York Stock Exchange traces its origins to 1792, when 24 New York City stockbrokers and merchants signed the Buttonwood Agreement. This agreement set in motion the NYSE’s unwavering commitment to investors and issuers.
Now NYSE Euronext welcomes the historic American Stock Exchange into the world’s largest and most liquid exchange group.

Cautionary

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2008 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on April 28, 2009 under No. R. 09-031), 2008 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

About NYSE

NYSE Euronext (NYX) is the world’s most diverse exchange group, offering a broad and growing array of financial products and services in Europe and the United States that include cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions. With over 8,000 listed issues globally, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex -- represent nearly 40% of the world's cash equities trading volume, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world’s second largest derivatives business by value of trading. NYSE Euronext offers comprehensive global commercial technology, connectivity, and market data products and services through its innovative trading solutions unit, NYSE Technologies. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information,

NYSE Profile

NYSE Profile of the Week is an investor-friendly online resource that showcases one NYSE-listed company per week and enables companies to self-publish data, investor relations information and marketing messages in a multi-media player on the NYSE Euronext corporate website. The interactive tool is available on the homepage of NYSE Euronext, www.nyx.com which attracts nearly two million unique visitors per month and serves as a highly visible venue to showcase a listed company’s stock, products and services. Information and materials presented by featured listed companies will be available for convenient access and retrieval after that first week. General Electric will be the first company featured, followed by other NYSE-listed companies in the following weeks.

NYSE Alliance Network

The NYSE Alliance Network is an online resource where NYSE- and NYSE Amex-listed companies can market products and services to employees of other NYSE- and NYSE Amex-listed companies at a loyalty discount. “The NYSE Alliance Network gives our listed companies an important new, complimentary benefit to listing on our market,” said Mr. Cutler. “The ability to leverage our listed-company base, which includes many of the world’s leading brands, coupled with best-in-class technology will give our listed company community unparalleled access to a wide variety of products and services.”
In the NYSE Alliance Network, NYSE-listed companies will be able to open up new markets and generate new revenue streams while benefiting their employees at the same time. Employee discounts of up to 20% will be available through the network. NYSE Euronext is launching the new service in partnership with a leading e-commerce expert that manages employee loyalty programs for more than 25 million employees through some 25,000 affiliated merchants.

NYSE Connect

YSE Connect, a private online community built exclusively for NYSE- and NYSE Amex-listed company executives, is being developed in conjunction with Passenger, a Los Angeles-based leader in creating and managing private online communities that drive user advocacy and insight. The first of its kind among exchanges, NYSE Connect provides NYSE- and NYSE Amex-listed company executives faster access to market information and economic reports via webcasts, surveys and blogs, while also enabling them to collaborate with peers by sharing ideas and best practices.
“In a collaborative marketplace, static information isn’t enough,” said Scott R. Cutler, EVP, and Head of Listings, Americas , NYSE Euronext. “Building upon current data and information assets, listed company management can now communicate online via NYSE Connect, which offers unprecedented access to essential information, people, and capital in a high-level, exclusive forum.”
NYSE Connect will feature private webcasts and live chat sessions as well as online polls and surveys that enable NYSE-listed company executives to form collective views and opinion on industry best practices, current news and issues, in addition to engaging in dialogue with top analysts, the NYSE and peers.

NYSE Euronext

- NYSE Connect: the first exchange-powered, private online network for listed issuers-- NYSE Alliance Network: a unique online retail marketplace for employees of listed companies-- NYSE Profile of the Week: a web-based showcase for listed company news, highlights and events
NEW YORK , June 3, 2009 –NYSE Euronext (NYX) today unveiled the launch of NYSE Connect, an innovative online community exclusively for executives of NYSE-and NYSE Amex-listed companies. The announcement of this new listed-issuer platform coincides with the launch of two other innovative web-based offerings — the NYSE Alliance Network, and Profile of the Week — designed to provide unique benefits to listed company management and employees and add to NYSE Euronext’s growing portfolio of value-added issuer products and services. These new digital offerings complement other issuer services launched by NYSE Euronext in recent months such as the NYSE Market Access Center (MAC ).
“Our customers want new pathways to access information and share ideas, to connect with stakeholders and to drive incremental business and revenue,” said Joe Mecane, Executive Vice President and Chief Administrative Officer, US Execution, NYSE Euronext. “Our new service introductions address those interests and enhance our issuer services platform. Our goal is to leverage technology and information for the benefit of our world class family of listed companies, providing this community a content rich forum, advanced networking capabilities and new commercial opportunities that are unrivaled by any other marketplace.”

NYSE

In the mid-1960s, the NYSE Composite Index (NYSE: NYA) was created, with a base value of 50 points equal to the 1965 yearly close, to reflect the value of all stocks trading at the exchange instead of just the 30 stocks included in the Dow Jones Industrial Average. To raise the profile of the composite index, in 2003 the NYSE set its new base value of 5,000 points equal to the 2002 yearly close.

Trading

The New York Stock Exchange (sometimes referred to as "the Big Board") provides a means for buyers and sellers to trade shares of stock in companies registered for public trading. The NYSE is open for trading Monday through Friday between 9:30–16:00 ET, with the exception of holidays declared by the Exchange in advance.
On the trading floor, the NYSE trades in a continuous auction format, where traders can execute stock transactions on behalf of investors. They will gather around the appropriate post where a specialist broker, who is employed by an NYSE member firm (that is, he/she is not an employee of the New York Stock Exchange), acts as an auctioneer in an open outcry auction market environment to bring buyers and sellers together and to manage the actual auction. They do on occasion (approximately 10% of the time) facilitate the trades by committing their own capital and as a matter of course disseminate information to the crowd that helps to bring buyers and sellers together.
As of January 24, 2007, all NYSE stocks can be traded via its electronic Hybrid Market (except for a small group of very high-priced stocks). Customers can now send orders for immediate electronic execution, or route orders to the floor for trade in the auction market. In the first three months of 2007, in excess of 82% of all order volume was delivered to the floor electronically.[21]
The right to directly trade shares on the exchange is conferred upon owners of the 1366 "seats". The term comes from the fact that up until the 1870s NYSE members sat in chairs to trade. In 1868, the number of seats was fixed at 533, and this number was increased several times over the years. In 1953, the exchange stopped at 1366 seats. These seats are a sought-after commodity as they confer the ability to directly trade stock on the NYSE. Seat prices have varied widely over the years, generally falling during recessions and rising during economic expansions. The most expensive inflation-adjusted seat was sold in 1929 for $625,000, which, today, would be over six million dollars. In recent times, seats have sold for as high as $4 million in the late 1990s and $1 million in 2001. In 2005, seat prices shot up to $3.25 million as the exchange was set to merge with Archipelago and become a for-profit, publicly traded company. Seat owners received $500,000 cash per seat and 77,000 shares of the newly formed corporation. The NYSE now sells one-year licenses to trade directly on the exchange.

Exchange

On October 19, 1987, the Dow Jones Industrial Average (DJIA) dropped 508 points, a 22.6% loss in a single day, the second-biggest one-day drop the exchange had experienced, prompting officials at the exchange to invoke for the first time the "circuit breaker" rule to halt all trading. This was a very controversial move and led to a quick change in the rule; trading now halts for an hour, two hours, or the rest of the day when the DJIA drops 10, 20, or 30 percent, respectively. In the afternoon, the 10% and 20% drops will halt trading for a shorter period of time, but a 30% drop will always close the exchange for the day. The rationale behind the trading halt was to give investors a chance to cool off and reevaluate their positions. Black Monday was followed by Terrible Tuesday, a day in which the Exchange's systems did not perform well and some people had difficulty completing their trades.
There was a panic similar to many with a fall of 7.2% in value (554.26 points) on October 27, 1997 prompted by falls in Asian markets, from which the NYSE recovered quickly.
On January 26, 2000, an altercation during filming of the music video for Sleep Now in the Fire, which was directed by Michael Moore, caused the doors of the exchange to be closed and the band, Rage Against the Machine, to be escorted from the site by security,[11] after band members attempted to gain entry into the exchange.[12] Trading on the exchange floor, however, continued uninterrupted.[13]

Security after the September 11 attacks
The NYSE was closed from September 11 until September 17,

Events

The exchange was closed shortly after the beginning of World War I (July 31, 1914), but it partially re-opened on November 28 of that year in order to help the war effort by trading bonds, and completely reopened for stock trading in mid-December.
On September 16, 1920, a bomb exploded on Wall Street outside the NYSE building, killing 33 people and injuring more than 400. The perpetrators were never found. The NYSE building and some buildings nearby, such as the JP Morgan building, still have marks on their facades caused by the bombing.
The Black Thursday crash of the Exchange on October 24, 1929, and the sell-off panic which started on Black Tuesday, October 29, are often blamed for precipitating the Great Depression of 1929. In an effort to try to restore investor confidence, the Exchange unveiled a fifteen-point program aimed to upgrade protection for the investing public on October 31, 1938.
On October 1, 1934, the exchange was registered as a national securities exchange with the U.S. Securities and Exchange Commission, with a president and a thirty-three member board. On February 18, 1971 the non-profit corporation was formed, and the number of board members was reduced to twenty-five.

Stock Exc

The NYSE announced its plans to acquire Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company. NYSE's governing board voted to acquire rival Archipelago on December 6, 2005, and become a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year later, on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming the NYSE Euronext, the first transatlantic stock exchange.

History

The origin of the NYSE can be traced to May 17, 1792, when the Buttonwood Agreement was signed by 24 stock brokers outside of 68 Wall Street in New York under a buttonwood tree on Wall Street. On March 8, 1817, the organization drafted a constitution and renamed itself the "New York Stock & Exchange Board". Anthony Stockholm was elected the Exchange's first president (for other presidents, see List of presidents of the New York Stock Exchange).
The first central location of the Exchange was a room, rented in 1817 for $200 a month, located at 40 Wall Street. After that location was destroyed in the Great Fire of New York (1835), the Exchange moved to a temporary headquarters. In 1863, the New York Stock & Exchange Board changed to its current name, the New York Stock Exchange. In 1865, the Exchange moved to 10-12 Broad Street.

NYS E

ew York Stock Exchange is an equity (stock) exchange located at 11 Wall Street in lower Manhattan, New York, USA. It is the largest stock exchange in the world by dollar value of its listed companies' securities.[3] As of October 2008, the combined capitalization of all domestic New York Stock Exchange listed companies was US$10.1 trillion.[4]
The NYSE is operated by NYSE Euronext, which was formed by the NYSE's 2007 merger with the fully-electronic stock exchange Euronext. The NYSE trading floor is located at 11 Wall Street and is composed of four rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978,[5] as was the 11 Wall Street building.[2][6][7]

Stockmarket

Stock market talk is everywhere, from TV and radio, to the newspapers and the web. But what does it mean when people say that "the market turned in a great performance today?" What is "the market" anyway?


As it turns out, when most people talk about "the market," they are actually referring to an index. With the growing importance of the stock market in our society, the names of indexes such as the Dow Jones Industrial Average (DJIA), S&P 500 and Nasdaq composite have become part of our everyday vocabulary. This tutorial will define what an index is, discuss some of the major stock indexes and explain how you can invest in the stock market using index funds. (If you aren't familiar with the stock market and mutual funds, we suggest that you check out our Stock Basics Tutorial and Mutual Fund Basics Tutorial before reading on.)

new forex

But, wait a minute. Isn't the whole purpose of mutual funds to coax us lowly investors into enlisting the help of professionals who can achieve superior returns? That's the idea the mutual fund industry has been trying to sell us for many years. The truth is that a majority of mutual funds fail to outperform the S&P 500. The exact stats vary depending on the year, but on average, anywhere from 50%-80% of funds get beat by the market. The main reason for this is the costs that mutual funds charge. A fund's return is the total return of the portfolio minus the fees an investor pays for management and fund expenses. If a fund charges 2%, then you have to outperform the market by that amount just to be even. Here's where index funds enter the picture. Their main advantage is lower management fees than you would get from a regular mutual fund. An average non-index fund has an expense ratio of around 1.5%, whereas many index funds have an expense ratio of around 0.2%! The reason the costs are lower is because an index fund is not actively managed. Fund managers only need to maintain the appropriate weightings to match the index performance - a technique known as passive management. The deceptive thing about the "passive" label is that most indexes are actively selected. Take the S

IndexInvesting

ndexes are great tools for telling us what direction the market is taking and what trends are prevailing. So, how do we buy into these investment vehicles? Imagine the costs associated with buying the 6,500+ stocks that make up the Wilshire Total Market Index. Commission fees alone would run into the tens of thousands!




If you've been paying attention throughout this tutorial, you've probably noticed we mention index funds more than once. Index funds are simply mutual funds that based on an index and mirror its performance. The thinking behind index funds has some academic substance to it. For years, many academics have been saying that it is impossible to consistently beat the market without raising your risk level - a theory known as Efficient Market Hypothesis (EMH). So in 1975, John Bogle took the stance that "if you can't beat 'em, join 'em" and created the first

Investopedia explains

The origins of the exchange date all the way back to 1792. Because of its long operating history the NYSE is home to the majority of the world’s largest and best-known companies. Foreign-based corporations can list their shares on the NYSE if they adhere to certain Securities and Exchange Commission (SEC) rules, known as listing standards.The NYSE opens for trading Monday through Friday 9:30a.m. to 4:00p.m. (ET), closing early on rare occasions. The market also shuts down during nine holidays throughout the year.

NYSE

A stock exchange based in New York City, which is considered the largest equities-based exchange in the world based on total market capitalization of its listed securities. Formerly run as a private organization, the NYSE became a public entity in 2005 following the acquisition of electronic trading exchange Archipelago. The parent company of the New York Stock Exchange is now called NYSE Euronext, following a merger with the European exchange in 2007.Also known as the "Big Board", the NYSE relied for many years on floor trading only, using the open outcry system. Today, more than half of all NYSE trades are conducted electronically, although floor traders are still used to set pricing and deal in high volume institutional trading.

forex

Moreover, renewed interest by retail/institutional investors in blue-chip scrips affected investor sentiment positively throughout the day.The KSE-100 index was positive in the opening, 3.44 points up and sustained the upward movement till the end of the day, closing at 6,894.62 points with a gain of 16.48 points.Trading activity was enhanced as compared to the last trading session while the ready market turnover increased to 125.067 million shares from 93.595 million shares of last session. Trading value of the market inched up to Rs 5.645b as compared to Rs 4.069b of last trading session.Market capitalisation stood up to Rs 2.045tr on Friday against last session’s Rs 2.040tr on Thursday. Out of 275 active companies at the Karachi stock market, 143 companies gained value, 120 lost while worth of the shares of 12 cos remained unchanged.

Stock market fails

KARACHI - Buying activity was witnessed at the Karachi Stock Exchange after a gap of four trading sessions as the KSE-100 index gained 16 points on Friday.The statement from SECP to reinitiate the process to provide margin financing to the investor community turned out to be beneficial for the stock market as index recovered a little bit. But later, the selling pressure turned the index towards negative zone. Finally after the tug of war between bull and bear, the benchmark index closed the day after adding 16 points to the index with healthy volumes of 125 million shares. Despite few points gained the top ten stocks more or less remain in red.

Trade on spreads

Trade currencies and spot gold at FOREX.com. Dealing spreads are as low as 1-2 pips on the most widely traded currency pairs. As always, you pay no commissions at FOREX.com, only the bid/offer spread. And with our fractional pips, you gain an extra digit of precision so that you can take advantage of smaller price movements. Plus, you can enter orders at any price - even inside the spread - and trade around news events, major economic announcements and other times of high market volatility.
Fully automated click & deal trading, with instantaneous fills At FOREX.com, we've always automated processing for all click & deal forex trades. When you click BUY or SELL, our systems perform a margin check and, if accepted, immediately respond with a trade confirmation. Why is this important to you? First, you benefit from an unbiased trading environment that is not subject to human intervention. Second, automated trade processing improves our efficiency, which lowers our overhead and allows us to pass along the saving to you in the form of tighter spreads.

Published

US Dollar flaw is ready to go on in the upcoming week as an upward correction in risky assets gives capital out of risk free assets in seek of yield. Last week, the US Dollar Index decisively broke under an increasing trend line that had directed prices higher from mid-December, showing the way for an extensive pullback in opposition to the range of main currencies. In fact, the US dollar average value in opposition to its major counterparts is at present -93.7 percent inversely related with the MSCI World Stock Index

DailyFX+ Forex

It remains critical to monitor US Dollar pairs through the near term and manage our trading biases accordingly. For the moment, we favor Breakout2 and Momentum2 trading signals. Yet we remain mindful that low volatility may in fact invite a turndown in currency movements and a return to trading ranges.

Forex Trading

Our Momentum and Breakout trading systems have had a strong run in the past week or so, with the US Dollar’s breakdown providing solid opportunities in these strategies. Momentum2 had previously shown negative performance in the preceding 60 days of trading, but the recent turn has been enough to lift the strategy into positive territory through time of reporting. Clearly a continuation of the USD downtrend would be beneficial to the Momentum2 and Breakout2 systems. Yet we remain clearly aware of the fact that low volatility figures suggest markets may re-enter large trading ranges through upcoming trade.

Opt Out

You are not required to supply any of the personal information that we may request; however, failure to do so may result in our being unable to provide services to you. While we make every effort to ensure that all information we hold about you is accurate, complete, and up to date, you can help us considerably in this regard by promptly notifying us if there are any changes to your personal information.If you do not wish to have your personal information disclosed to our affiliates or other third parties as described in this Policy, please contact us via e-mail at: compliance@fxcm.comor send your request to:Forex Capital Markets LLCAttention: Privacy OfficerFinancial Square32 Old Slip, 10th FloorNew York, NY 10005

Regulatory Disclosure

Under limited circumstances, DailyFX may disclose your personal information to third parties as permitted by, or to comply with, applicable laws and regulations. For example, we may disclose personal information to cooperate with regulatory authorities and law enforcement agencies to comply with subpoenas or other official requests, and as necessary to protect our rights or property. Except as described in this privacy policy, we will not use your personal information for any other purpose, unless we describe how such information will be used at the time you disclose it to us or we obtain your permission.

Sharing Information

DailyFX does not disclose your personal information to third parties, except as described in this Policy. Third party disclosures may include sharing such information with non-affiliated companies that perform support services for your account or facilitate your transactions with DailyFX, including those that provide professional, legal, or accounting advice to DailyFX. Non-affiliated companies that assist DailyFX in providing services to you are required to maintain the confidentiality of such information to the extent they receive it and to use your personal information only in the course of providing such services and only for the purposes that DailyFX dictates.We may also disclose your personal information to third parties to fulfill your instructions or pursuant to your expressed consent. We want you to know that DailyFX will not sell your personal information.

Sharing Information

We may share personal information described above with our affiliates for business purposes, such as, but not limited to, servicing customer accounts and informing customers about new products and services, and as permitted by applicable law. Our affiliates may include companies controlled or owned by us as well as companies that have an ownership interest in our company. The information we share with affiliates may include any of the information described above. Our affiliates maintain the privacy of your information to the same extent DailyFX does in accordance with this Policy.

Security Technology

DailyFX uses Secure Socket Layer (SSL) encryption technology in order to protect certain information that you submit. This type of technology protects you from having your information intercepted by anyone other than DailyFX while it is being transmitted to us. We work hard to ensure that our Web sites are secure and that they meet industry standards. We also use other safeguards such as firewalls, authentication systems (e.g., passwords and personal identification numbers), and access control mechanisms to control unauthorized access to systems and data.

About Cookies

Cookies are small files containing information that a Web site uses to track its visitors. DailyFX may set and access DailyFX cookies on your computer, enabling us to learn which advertisements and promotions bring users to our Web site. DailyFX may use cookies in connection with DailyFX's products and services to track your activities on our Web sites. Such information that we collect and share would be anonymous and not personally identifiable.

Personal Information

When you apply for or maintain a registration with DailyFX, we collect personal information about you for business purposes, processing your requests, informing you about products and services that may be of interest to you, and providing customer service. Such information may include information you provide when registering such as name, email, address, date of birth, etc.

Security

DailyFX respects each individual's right to privacy. We value our relationship with you, and we take pride in maintaining loyalty and respect with each individual user by providing you with security. The provisions of this notice apply to former users as well as our current users

Opting out of disclosures

You may direct us not to disclose non-public personal information to certain third parties. To opt out of sharing non-public personal information with third parties, please contact GAIN Capital Group as stated in the contact information listed below. Note that for joint accounts, an opt out election made by one account owner of a Joint account is applicable to all account owners of the Joint account. An opt-out election must be made for each separate account you hold at GAIN Capital Group.

forex

If at any time you choose to purchase a product or service offered by another company, for example by clicking on an advertisement on a Web site owned or controlled by GAIN Capital Group, any personal information you share with that company will no longer be controlled under our Privacy Statement. We are not responsible for the privacy policies or the content of sites we link to and we have no control of the use or protection of information provided by you or collected by those sites. Whenever you elect to link to a co-branded Web site or to a linked Web site, you may be asked to provide registration or other information. Please note that the information you are providing is going to a third party, and you should familiarize yourself with the privacy policy published by that third party

stock exchange

To help us improve our services to you, we may engage another business to help us to carry out certain internal functions such as account processing, fulfillment, client service, client satisfaction surveys or other data collection activities relevant to our business. We may also provide a party with client information from our database to help us to analyze and identify client needs and notify clients of product and service offerings. Use of the information shared is strictly limited to the performance of the task we request and for no other purpose. All third parties with which we share personal information are required to protect personal information in a manner similar to the way we protect personal information. Examples of information shared are identifying information such as name, mailing address, e-mail address and, telephone number, and information on account activity.

Non-affiliated third parties

GAIN Capital Group does not sell, license, lease or otherwise disclose your personal information to any third party for any reason, except as described below.GAIN Capital Group reserves the right to disclose your personal information to third parties where required by law to regulatory, law enforcement or other government authorities. We may also disclose your information as necessary to credit reporting or collection agencies, or when necessary to protect our rights or property.

GAIN Capital Group

GAIN Capital Group may share information with affiliates if the information is required to provide the product or service you have requested or to provide you the opportunity to participate in the products or services our affiliates offer. GAIN Capital Group also forges partnerships and alliances, which may include joint marketing agreements, with other companies who offer high-quality products and services that might be of value to our clients. In order to ensure that these products and services meet your needs and are delivered in a manner that is useful and relevant, GAIN Capital Group may share some personal information with partners, affiliates and alliances. This allows them to better understand the offers that are most relevant and useful. In our strategic relationships, we will require that it be identified that an offer is being extended because of the relationship with us. The use of your personal information is limited to the purposes identified in our relationship with the partner or affiliate.

Usage of personal information

GAIN Capital Group may use the information collected from you to verify your identity and contact information. We may also use this information to establish and set up your trading account, issue an account number and a secure password, maintain your account activity, and contact you with account information. This information helps us improve our services to you, customize your browsing experience and inform you about additional products, services or promotions that may be of interest to you.Should you close your account with us, GAIN Capital Group will retain your information, but only use it to comply with regulatory requirements and to periodically contact you to offer you the opportunity to reactivate your account or participate in other valuable offers.

You directly provide

You directly provide to us the majority of information we collect. You do this by completing the account application and related documentation, by placing a trade, by sending us an e-mail, or by submitting information in response to a promotion or special offer. Other ways we obtain information are by (1) observing your usage of the Web site, and (2) providing products and services to you. This information enables us to offer you products and services that should be of interest to you.The information we collect indirectly from you includes your Internet protocol ("IP") address, browser type, operating system, Internet service provider (ISP), time stamps, transactions placed, and banner ads you click. We do this through the use of cookies, which are small text files sent from the Web server and may be stored on your computer. Cookies help us to know you better by providing operational data we can use to aid your interaction with our Web site and improve its navigation and usability

Collection of personal

We collect information required to open an account, to transact business effectively and to safeguard your privacy. To do this, we gather information to help us assess your needs and preferences.The information we collect directly from you includes information required to communicate with you, including your name, mailing address, telephone number, e-mail address. In addition, we collect information required by law to identify who you are, including your Social Security number, Passport number or Tax Identification number. We also collect demographic information when you open an account, including gender, birth date, occupation and employment status. Our regulatory bodies also require us to assess your trading experience, your approximate annual income, approximate net worth, and available risk capital, all to assess your financial position.

GAIN Capital Group's

Protecting the privacy and safeguarding the personal and financial information of our clients and website visitors is one of our highest priorities. The following Privacy Statement explains how GAIN Capital Group collects and protects your personal information. References to "GAIN Capital Group" in this Privacy Statement include all GAIN Capital Group companies and divisions, including FOREX.com.By opening a GAIN Capital Group account or by using GAIN Capital Group Web sites, you give your consent to the collection and use of personal information by GAIN Capital Group as explained in this privacy statement

The world's most traded market

With average daily turnover of US$3.2 trillion, forex is the most traded market in the world. A true 24-hour market from Sunday 5 PM ET to Friday 5 PM ET, forex trading begins in Sydney, and moves around the globe as the business day begins, first to Tokyo, London, and New York. Unlike other financial markets, investors can respond immediately to currency fluctuations, whenever they occur - day or night.

Who trades currencies,

Daily turnover in the world's currencies comes from two sources:
Foreign trade (5%). Companies buy and sell products in foreign countries, plus convert profits from foreign sales into domestic currency.
Speculation for profit (95%). Most traders focus on the biggest, most liquid currency pairs. "The Majors" include US aDollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and Australian Dollar. In fact, more than 85% of daily forex trading happens in the major currency pairs.

What's Forex?

Forex" stands for foreign exchange; it's also known as FX. In a forex trade, you buy one currency while simultaneously selling another - that is, you're exchanging the sold currency for the one you're buying. The foreign exchange market is an over-the-counter market. Currencies trade in pairs, like the Euro-US Dollar (EUR/USD) or US Dollar / Japanese Yen (USD/JPY). Unlike stocks or futures, there's no centralized exchange for forex. All transactions happen via phone or electronic network.

Investopedia explains Forex Market

he foreign exchange markets isn't dominated by a single market exchange, but involves a global network of computers and brokers from around the world. Central banks use their massive buying and selling capabilities to alter exchange rates through their open market activities and in many cases will do so not with profit in mind, but rather for any number of policy reasons. Forex brokers act as market makers as well, and may post bid and ask prices for a currency pair that differs from the most competitive bid in the market.

What Does Forex Market Mean?

The market in which participants are able to buy, sell, exchange and speculate on currencies. The forex markets is made up of banks, commercial companies, central banks, investment management firms, hedge funds, and retail forex brokers and investors. The currency market is considered to be the largest financial market in the world, processing trillions of dollars worth of transactions each day.

Tokyo Stock Exchange

The Tokyo Stock Exchange (東京証券取引所, Tōkyō Shōken Torihikisho?), or TSE, located in Tokyo, Japan, is the second largest stock exchange market in the world by market value, second only to the New York Stock Exchange. As of 31 December 2007, the the Tokyo Stock Exchange had 2,414 listed companies with a combined market capitalization of $4.3 trillion.[1]

Amex.com Website Integration

NYSE Euronext (NYX), the world's leading and most diverse exchange group, completed its acquisition of the American Stock Exchange® (Amex®), becoming the third-largest U.S. options marketplace and enhancing the company's leadership in ETFs, cash equities, closed-end funds and structured products.As a result, NYSE Euronext has begun to integrate amex.com content and data into the nyse.com website. Effective the close of business, Friday, January 16, 2009, amex.com will be phased out. NYSE website links for the most frequently accessed information and data on amex.com can be found below:

Stock.XCHNG,

Whether you just want to browse our huge image gallery or want to share your own photos with others, this is the site for you!Browse through the categories of our huge gallery containing over 350.000 quality stock photos by more than 30.000 photographers! Need a wallpaper for your desktop or illustration for your blog? Need a pic for your commercial website design? Looking for inspiration? Have a look around.Share your photos with fellow designers! SXC is a friendly community of photography addicts who generously offer their works to those who need them free of charge. If you have some nice photos that you'd like to share with others, join us! Not only it feels great to share, you will also get a huge exposure for your work!Chat with other members in our forum! Looking for something? Need an opinion? Have a question? Post a topic, and someone will definitely help you out.

Our his to Stock Exchangs

The London Stock Exchange is one of the world’s oldest stock exchanges and can trace its history back more than 300 years. Starting life in the coffee houses of 17th century London, the Exchange quickly grew to become the City’s most important financial institution. Over the centuries following, the Exchange has consistently led the way in developing a strong, well-regulated stock market and today lies at the heart of the global financial community.We are proud of our long history that has helped to build our reputation today. Here are some of the milestones in the story of the London Stock Exchange.1698John Castaing begins to issue “at this Office in Jonathan’s Coffee-house” a list of stock and commodity prices called “The Course of the Exchange and other things”. It is the earliest evidence of organised trading in marketable securities in London.1698Stock dealers are expelled from the Royal Exchange for rowdiness and start to operate in the streets and coffee houses nearby, in particular in Jonathan’s Coffee House in Change Alley.1720The wave of speculative fever known as the “South Sea Bubble” bursts.1748Fire sweeps through Change Alley, destroying most of the coffee houses. They are subsequently rebuilt.1761A group of 150 stock brokers and jobbers form a club at Jonathan's to buy and sell shares.1773The brokers erect their own building in Sweeting’s Alley, with a dealing room on the ground floor and a coffee room above. Briefly known as “New Jonathan’s”, members soon change the name to “The Stock Exchange”.1801On 3 March, the business reopens under a formal membership subscription basis. On this date, the first regulated exchange comes into existence in London, and the modern Stock Exchange is born.

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Trade North American, European and Asia/Pacific shares and indices commission free, with 2% margin requirement. To receive a free demonstration version of our online trading software, please complete the form below. This software allows investors to trade and manage a demo account in real time over the internet, with 50,000 "demo dollar" account balance. Since no money is actually at risk, this is an excellent way to evaluate our software and trade execution.Live market prices stream into the trading software. Just click on a price to trade indices or shares - including S&P 500, Dow Jones Industrials, DAX 30, IBM, Vodafone, Microsoft, and many more.Comprehensive account-statements, real-time Account Balance tracking and live charts and quotes.Complete the form below to try a Free demo account now! Login instructions and Password will appear immediatelyCFD/Share Trading Demo Account RegistrationAccount Type:CFD AccountPlease select... Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Benin Bhutan Bolivia Bosnia Botswana Bouvet Island Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China Christmas Island Cocos Islands Colombia Comoros Congo Congo, The Democratic Republic of Cook Islands Costa Rica Cote d'Ivoire Croatia Cuba Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic East Timor Ecuador Egypt El Salvador Equatorial Guinea Estonia Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana Gabon GambiaGeorgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guinea Guinea Bissau Guyana Haiti Heard Island and Mcdonald Islands Holy See (Vatican City State) Honduras Hong Kong Hungary Iceland India Indonesia Iran, Islamic Republic of Iraq Ireland Israel Italy Jamaica Japan Jordan Kazakstan Kenya Kiribati Korea, Democratic People's Republic of Korea, Republic of Kuwait Lao People's Democratic Republic Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia, Federated States of Monaco Mongolia Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Zealand Nicaragua Niger Nigeria Niue Norfolk Island Northern Mariana Islands Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Reunion Romania Russian Federation Saint Helena Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and The Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa South Georgia and S. Sandwich Islands Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Swaziland Sweden Switzerland Syrian Arab Republic Taiwan, Province of China Tajikistan Tanzania, United Republic of Thailand Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States of America Uruguay Vanuatu Venezuela Vietnam Western Sahara Yemen Yugoslavia Zambia ZimbabweDay Phone:Home PhoneNumber of Accounts:1 2 3 4 5(Bold indicates a required field.)

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Squared, One Market. Infinite Possibilities, NYSE Marketview, ARCAEX, Archipelago Integrated Book, Archipelago Exchange, Wave Securities, Everything Out In The Open, All St, Archipelago, Archipelago and Design, The Stock Exchange Luncheon Club, NYSE Energy Index, NYSE Financial Index, NYSE Sector Indexes, NYSE Health Care Index, NYSE Specialist Portfolio, Put The Whole World In Your Portfolio With One Trade, IXP, Smartbook, tradearca.com, At The Center Of Global Business, Multi-Bond, Luxnext, Opening New Horizons, Nextquote, Nexthistory, EMDS, EURONEXT.LIFFE GO FOR GROWTH, Nextwarrants, Tradecheck, Fast Path, Dailies, Smartpool, NYSE EURONEXT and Double Portal Design, Double Portal Design (Design Of Two Quadrilaterals In Blue), Smartpool, Euronext Alternext NYSE Euronext, Alternext, Nexttrack, Next Prime, Next Economy, X Euronext Go For Growth, Xeuronext, Euronext, Amsterdam Exchanges AEX, AEX, AEX - Index, CAC, Eurotop 100 Index, VCAC, Trans Atlantic Index, Nextcac 70, MATIF, Asia Next, US Next, Monep, CAC Next20, AMX, Next Prime Index, Euronext 100 Index, Next 150 Index, HybridTalk, A Refreshing New Way to Look at the Market, NYSE OrderFlow Powered by NYSE Ordertrac, Star Matrix, IDTALK, NYSE.com

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 ("document de référence") filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2008 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

About NYSE Euronext

NYSE Euronext (NYX) is the world’s most diverse exchange group, offering a broad and growing array of financial products and services in Europe and the United States that include cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions. With over 8,000 listed issues globally, NYSE Euronext's equities markets -- the New York Stock Exchange, Euronext, NYSE Arca, and NYSE Amex -- represent nearly 40% of the world's cash equities trading volume, the most liquidity of any global exchange group. NYSE Euronext also operates NYSE Liffe, the leading European derivatives business and the world’s second largest derivatives business by value of trading. NYSE Euronext offers comprehensive global commercial technology, connectivity, and market data products and services through its innovative trading solutions unit, NYSE Technologies. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit:www.nyx.com.

NYSE Euronext Added to 2009

New York, April 22, 2009 – NYSE Euronext (NYX), the world’s leading and most diverse exchange group, today announced that it has been included in the 2009 Fortune 500 list of America’s largest corporations, the only exchange group to earn that distinction with a rank of 477. Some 81% or 405 of the Fortune 500 companies are listed on NYSE Euronext exchanges, while the top 20 companies and 86 of the top 100 are listed on the New York Stock Exchange.

“NYSE Euronext is honored to be the first exchange group included in the Fortune 500,” said Michael S. Geltzeiler, Group Executive Vice President and Chief Financial Officer, NYSE Euronext. “Our goal of creating the preeminent global exchange group is built on the principles of exceptional customer service, long-term shareholder value and continuous innovation. We would like to thank our customers, shareholders and employees for their continued support.”

Obama unveils

Spending and tax outline proposes dramatic health care overhaul - vows to slash deficit, projected at $1.75 trillion in '09.

NEW YORK (CNNMoney.com) -- President Obama on Thursday pulled back the curtain on his first detailed vision of the federal budget for the next 10 years.
His outline includes an ambitious plan to reform health care, half of which would be paid for in great part by increasing the tax bite on high-income Americans.
Obama has said repeatedly that his first fiscal plan would have a two-pronged mission: to reduce the $1 trillion-plus deficit and make big investments in the future.
The administration estimates that the deficit for fiscal year 2009 will reach $1.75 trillion, or 12.3% of U.S. gross domestic product. That's a record in dollar terms and is the highest as a share of GDP since World War II.
Obama's promise: reduce the deficit he inherited to $533 billion by 2013.
"We will each and every one of us have to compromise on certain things we care about, but which we simply cannot afford right now. That's a sacrifice we're going to have to make," Obama said.
"What I won't do is sacrifice investments that will make America stronger, more competitive and more prosperous in the 21st century," he said.
Obama's outline also reveals how much more money he and his economic team are setting aside to stabilize the financial system. Their estimate: $250 billion. That would be on top of the $700 billion already authorized by Congress under the Troubled Asset Relief Program.

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This Web site, including but not limited to the text, content, all real time or other information, any software programs available on or through the Web site, photographs, images, video, audio and graphics contained on the Web site (“Content”), is protected by copyright, trademark, trade dress, domain name, patent, trade secret, international treaties and other proprietary rights and laws of the United States and other countries. You acknowledge and agree to abide by all applicable intellectual property laws, as well as any additional notices or restrictions contained on the Web site. Unauthorized use of this Web site and the materials and Content contained on this Web site may violate applicable, copyright, trademark, patent, or other intellectual property laws or other laws. The copyrights, trademarks, service marks and any other proprietary Content displayed on this Web site are registered and common law copyrights, trademarks, service marks, trade dress and proprietary material of NYSE and various third parties. Nothing contained on this Web site should be construed as granting, by implication, estoppel or otherwise, any license or right to use any of the Content or proprietary material without the express written permission of NYSE or such other party as may own the proprietary rights.

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This Web Site is for informational and educational purposes only. The information and materials contained on this Web Site are provided ‘as is’ and NYSE Euronext does not warrant the accuracy, adequacy or completeness of the information and materials and expressly disclaims liability for errors or omissions. None of the information contained on this Web Site constitutes an offer, solicitation or recommendation to acquire or dispose of any security or investment or to engage in any other transaction or to provide legal, tax, accounting or investment advice or services regarding the suitability or profitability of any security or investment. NYSE Euronext has not made any recommendations regarding the merit of any company, security or other financial product or investment identified on the Web Site, made any recommendation regarding the purchase or sale of any such company, security, financial product or investment, or endorsed or sponsored any company identified on the Web site.

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Cautionary Note Regarding

Certain statements in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s

Decommissioning of CMS Update

As previously communicated in prior client notices, the NYSE has completed its transition of Cash Equity order flow from CMS to CCG. Additionally, with the successful migration of NYSE Amex Options to the NYSE Arca trading platform, CMS will no longer be used for Options order flow. Effective start of business Monday, March 23, 2009 all CMS connections currently enabled for order flow will be decommissioned. Firms should ensure that their job streams are updated to reflect these changes and that their systems are not impacted.
For any questions, please contact your RM or our Service Desk at 1.866.873.7422.

New Database (SDBK): Implementation Update

To update the March 11, 2009 Trader Update post, NYSE Euronext successfully deployed its new Super Display Book (SDBK) database in production on Monday, March 16, 2009 in the stock Par Technologies Corporation (NYSE Listed: PTC) and confirmed processing through the comparison, clearing and settlement systems

New Database (SDBK): Implementation Update

To update the March 18, 2009 Trader Update post, in response to firms’ concerns regarding changes implemented in the initial pilot stock of the Super Display Book (SDBK) deployment, the NYSE will be implementing software changes to reinstate the Cancel Replace to reduce message type into the SDBK environment. The linked Trading Technology Information Memo details the implementation of the order type. This software enhancement will be available for firms to test in the User Acceptance Test (UAT) environment shortly

NYSE Amex Equity Transaction Price Reduction

Effective April 1, 2009 the transaction fee applicable to NYSE floor brokers taking liquidity in NYSE Amex listed securities when routing via the hand held or BBSS will be $0.0020 per share.
The Exchange is modifying the 2009 NYSE Amex Price List to clarify that floor brokers are NOT charged a fee in connection with all agency cross trades.

The NYSE Reschedules Enhanced MOC/LOC Handling for All Customers

The New York Stock Exchange has rescheduled the introduction of enhanced MOC/LOC handling for March 9, 2009. In late December the NYSE postponed the original launch date to give all firms the ability to take advantage of the service. The NYSE will disable the current MOC and LOC blocks that member firms have previously added to their individual mnemonics the weekend prior to the March 9 launch.
Please note that there will be a change in how the Exchange Systems will handle cancel requests. Based on client feedback the Exchange will block all MOC/LOC cancel requests beginning at 3:50PM on all MOC/LOC orders entered before 3:40 PM and offsetting orders for previously published imbalances entered after 3:40 PM. Previously the Exchange Systems were going to begin blocking all cancel requests at 3:40 PM.
Attached is an updated memo highlighting the specifics of how the Exchange Systems will now handle MOC/LOC orders

New Database (SDBK): Implementation Update

To update the 18, 2009 Trader Update post, in response to firms’ concerns regarding changes implemented in the initial pilot stock of the Super Display Book (SDBK) deployment, the NYSE will be implementing software changes to reinstate the Cancel Replace to reduce message type into the SDBK environment. The linked Trading Technology Information Memo details the implementation of the order type. This software enhancement will be available for firms to test in the User Acceptance Test (UAT) environment shortly. Subsequent notification will be issued detailing the deployment of this software to additional pilot stocks.

NYSE Amex Equity Transaction Price Reduction

Effective April 1, 2009 the transaction fee applicable to NYSE floor brokers taking liquidity in NYSE Amex listed securities when routing via the hand held or BBSS will be $0.0020 per share.
The Exchange is modifying the 2009 NYSE Amex Price List to clarify that floor brokers are NOT charged a fee in connection with all agency cross trades.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.

About NYSE Euronext

NYSE Euronext (NYX) is the world’s leading, most liquid and diverse exchange group. It offers a broad and growing array of financial products and services in cash equities, futures, options, exchange-traded products, bonds, market data, and commercial technology solutions, all designed to meet the evolving needs of issuers, investors and financial institutions. Spanning multiple asset classes and six countries, NYSE Euronext’s exchanges include the New York Stock Exchange, Liffe, the leading European derivatives exchange by value of trading, Euronext and NYSE Arca. With more than 6,500 listed issues, more than any other exchange group, trading on NYSE Euronext’s equity markets represents more than one-third of the world's cash equities volume. NYSE Euronext is part of the S&P 500 index and the only exchange operator in the S&P 100 index. For more information, please visit www.nyx.com.

exchange new

In Tape A securities, the routing fee to the NYSE using NYSE Arca’s Primary Sweep Order (PSO ) is $0.0016 per share, otherwise the standard routing fee applies as noted in the table. The Primary Sweep Order (PSO ) is a market or limit order that sweeps the NYSE Arca Book and routes any remaining balance to the primary listing market. All orders with a PSO designation should be marketable. Non-marketable orders will function as regular limit orders. The PO+ Order is an order type that allows users to send a directed order for immediate routing to the primary, listing exchange, without first sweeping the NYSE Arca Order Book. The order can be entered as an Immediate-or-Cancel (IOC) order, or as a Day Order that will remain open until the order is either executed or cancelled. Additionally, the new PO+ order type supports reserve orders. The rates for the PO+ Order sent to NYSE include a rebate of $0.0010 for liquidity adding and fee of $0.0018 for liquidity removing.
2. Mid-Point Passive Liquidity (MPL) is an undisplayed limit order that is priced at the mid-point of the Protected Best Bid and Offer (PBBO). MPL orders will generally interact with all order types including contra MPLs excluding: cross or directed orders. MPL orders will be entered as a limit order but are executable only at the mid-point of the NBBO. When the market is locked, eligible MPLs will trade at the locked price. MPLs have a minimum entry and execution size of 100 shares

NYSE Arca Equities Price Changes

Effective March 1, 2009, the following NYSE Arca equities transaction fee changes will go into effect:
For customers with an average daily share volume per month greater than 90 million shares in Tape A, B and C trading, including adding liquidity of more than 45 million shares, the new rates per share are as follows:
For Tape A and Tape C securities, the pricing structure is inverted, including a rebate of $0.0029 for orders that add liquidity (previously $0.0028) and a fee of $0.0028 for orders that remove liquidity (previously $0.0027). The new inverted pricing structure will be in effect for a minimum of three months.
For all customers not reaching at least 60 million average daily share volume, the rates per share are as follows:
In Tape A and Tape C securities, all customers will receive a rebate of $0.0020 per share for resting MPL orders (previously $0.0010) and in Tape B securities the rebate is $0.0010 per share (previously zero). The MPL order is an undisplayed limit order that offers price improvement to customers by executing at the mid-point of the National Best Bid and Offer (NBBO).
For Tape A and Tape C securities, the rebate is $0.0023 for orders that add liquidity (unchanged) and the fee is $0.0030 for orders that remove liquidity (previously $0.0029).
All other transaction fees remain unchanged. NYSE Arca’s new pricing structure for all customers is summarized in the table below.

NYSE Equities Price Changes

“Recent pricing incentives for Designated Market Makers and Supplemental Liquidity Providers have contributed to significant increases in posted liquidity and NYSE market share gains,” said Joe Mecane, Executive Vice President and Chief Administrative Officer, U.S. Markets. "We are further extending this incentive program by offering a compelling rebate to all NYSE customers, while continuing to maintain the lowest take rate for accessing liquidity.”
Effective March 1, 2009, the new NYSE fee schedule for customers and floor brokers will include the following changes and benefits:
Customer rebate per share for adding liquidity of $0.0010 (previously no rebate) in displayed and non-displayed orders. Floor broker rebate per share for adding liquidity of $0.0012 (previously $0.0004) in displayed and non-displayed orders. Benefits of posting orders on the NYSE include: 1) Highly competitive rebate for liquidity providing in non-displayed orders; 2) Access to superior take liquidity offering higher certainty of execution; 3) Participation in block sweeps from the New York Block Exchange (NYBX).
Transaction fee per share for removing liquidity of $0.0018 (previously $0.0008) for customers and floor brokers. The NYSE continues to offer the best take fee for accessing liquidity, which is 28%-40% lower than other major market centers;
Transaction fee per share for market-on-close (MOC) and limit-on-close (LOC) orders of $0.0005 (previously $0.0004) for customers and floor brokers. Participants will continue to benefit from the $120 fee cap on all transactions.
Transaction fee per share for odd lot transactions (including odd lot portions of partial round lots) of $0.0010 (previously $0.0004). The NYSE continues to offer the lowest take fee for removing odd lots, which is 60%-67% lower than other major market centers.

New exchange

The New York Stock Exchange (NYSE) and NYSE Arca, units of NYSE Euronext (NYX), today announced new transaction pricing, effective March 1, 2009, pending SEC filing. The NYSE fee change will include customer rebates for adding liquidity while continuing to offer the lowest transaction fees for taking liquidity in NYSE-listed securities among the major market centers. The fee change is expected to be rolled out in conjunction with significant NYSE execution speed improvements. The NYSE Arca fee change raises the rebate for active traders in Tape A (NYSE-listed) and Tape C (Nasdaq-listed) securities, as well as a higher rebate on Mid-Point Passive Liquidity (MPL) orders for all customers in all securities. Together, the dual-exchange model of the NYSE and NYSE Arca deliver the best rate combination among major exchanges and superior liquidity when trading NYSE-listed securities, in addition to the lowest take fee on NYSE and highest rebate on NYSE Arca.
In addition, NYSE Euronext’s Global Multi-Platform Incentive Program offers additional savings to active global customers trading on the NYSE, NYSE Arca and Euronext markets. The program provides rebates of 0.007€ and 0.003€ (per 100 shares) for customers with average daily volume of more than 450 million and 250 million shares, respectively.

News Releases

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NYSE and NYSE Arca Announce Changes in Equities Transaction Pricing

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning NYSE Euronext’s plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on NYSE Euronext’s current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause NYSE Euronext’s results to differ materially from current expectations include, but are not limited to: NYSE Euronext’s ability to implement its strategic initiatives, economic, political and market conditions and fluctuations, government and industry regulation, interest rate risk and U.S. and global competition, and other factors detailed in NYSE Euronext’s reference document for 2007 (“document de référence”) filed with the French Autorité des Marchés Financiers (Registered on May 15, 2008 under No. R. 08-054), 2007 Annual Report on Form 10-K and other periodic reports filed with the U.S. Securities and Exchange Commission or the French Autorité des Marchés Financiers. In addition, these statements are based on a number of assumptions that are subject to change. Accordingly, actual results may be materially higher or lower than those projected. The inclusion of such projections herein should not be regarded as a representation by NYSE Euronext that the projections will prove to be correct. This press release speaks only as of this date. NYSE Euronext disclaims any duty to update the information herein.