Nyse Arca introduces portfolio crossing service

Source: Nyse Arca

NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx), the nation's first open, all-electronic stock exchange, today announced that it has implemented a Portfolio Crossing Service (PCS) to allow for the execution and reporting of entire portfolios (baskets) of stock at the conclusion of the late trading session.

NYSE Arca clients can trade baskets of a minimum of 15 stocks valued at least $1 million.

The PCS was created for clients who facilitate executions of large portfolios based on specific risk parameters. The PCS is open to all NYSE, NASDAQ, Amex and NYSE Arca-listed stocks. The crosses will occur at approximately 8:01 pm Eastern Time for PCS Cross Orders entered before 8:00 pm Eastern Time on NYSE Arca.

"The Portfolio Crossing Service is yet another example of NYSE Arca building services around client needs," said Mike Cormack, Executive Vice President, NYSE Group. "We continue to evolve the NYSE Arca trading platform by providing new trading efficiencies to the marketplace."

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