Program Trading Volume Fell On NYSE Last Week
13 Agosto 2009 - 9:18PM
Dow Jones News
The percentage of program trading in total volume on the NYSE
Euronext's (NYX) New York Stock Exchange fell last week as overall
trading action picked up.
Program trading averaged 799.4 million shares daily of the 2.98
billion that changed hands, or 26.9%. In the prior week, 816.6
million shares, or 30.6% of average daily volume of 2.67 billion,
were part of program trades.
The most active NYSE member firms for program trading last week
were Goldman Sachs Group Inc. (GS) at 993.2 million shares for the
entire week, followed by Morgan Stanley (MS) at 595 million. The
duo were far above any other member firm.
Program trading encompasses a wide range of portfolio-trading
strategies involving the purchase or sale of a basket of at least
15 stocks.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com