NYSE Euronext (NYSE Euronext: NYX) today announced that NYSE Bonds SM has commenced rollout of the first unlisted bonds of NYSE listed companies eligible to begin trading on the new platform. The addition of these 1,000 new issues is a part of a measured implementation that will culminate with the inclusion of more than 3000 bonds over the next few months.
“NYSE Bonds is dedicated to providing greater transparency for bond investors trading the corporate debt issues of NYSE listed companies,” said NYSE Euronext Vice President, Fixed Income, John Holman. “The inclusion of these new issues demonstrates our continuing efforts to expand the inventory and functionality of NYSE Bonds, and improve the quality of the fixed income market for the users of our newly-launched platform.”
With 500 bonds scheduled to be added weekly, NYSE Bonds will be expanded to trade the unlisted corporate debt issues of all NYSE-listed equity issuers and their wholly-owned subsidiaries. NYSE customers will have access to more than 6,000 bonds compared to approximately 1,000 issues that traded in ABS.
Replacing the Automated Bond System (ABS), the Exchange’s previous bond trading platform retired on Friday, April 20, NYSE Bonds utilizes NYSE Arca’s open, accessible all-electronic design. Boasting significantly increased efficiency and more transparent trading in corporate debt issues for NYSE members entering orders for bonds trading on the Exchange, the system primarily serves retail trading in corporate bonds utilizing a strict price and time priority architecture.
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined €21.7/$29.6 trillion total market capitalization of listed companies and average daily trading value of approximately €85/$115 billion (as of April 30, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
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