Archipelago Exchange breaks OTC market share record

Archipelago Exchange breaks OTC market share record

US electronic stock exchange Archipelago (ArcaEx) says it reached a new market share record for over-the-counter trading on 25 June 2003, handling more than one in four (27%) of all OTC orders.

ArcaEx's electronic system provides a single entry point to all domestic markets for both OTC and listed trading.

Jerry Putnam, CEO, Archpelago, comments: "In the fiercely competitive OTC arena, ArcaEx traded over 50% of PeopleSoft and Ericsson Telephone on June 25th underscoring the fact that our best execution model is meeting the needs of investors in today's rapidly changing market place."

The exchange completed its migration of OTC stocks from the electronic communications network (ECN) in April 2003.

ArcaEx now trades all US equities - more than 8000 in total - across every exchange and liquidity pool.

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