Program trading fell last week on the NYSE Euronext's (NYX) New
York Stock Exchange, as total volume jumped during the first full
week of 2010.
The daily program-trading average was 576.1 million, or 25.4%,
out of the 2.27 billion total shares that changed hands. That is
down from the prior week's rate of 31.3%, or 441.3 million of the
1.41 billion that traded, on average.
The most active NYSE member firm for program trading last week
was again Goldman Sachs Group Inc. (GS) at 695.8 million for the
entire period, followed by Morgan Stanley (MS) at 524.7 million and
Barclays PLC (BCS, BARC.LN) at 344.6 million. All three figures
were significantly higher than the prior week as activity picked up
after the holidays.
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