(Program Trading Surged Last Week On NYSE; Volume Jumps,"
published at 11:11 a.m. EDT Thursday, included incorrect
information from the NYSE on the latest week's activity in the
second and third paragraphs. A corrected article follows.)
DOW JONES NEWSWIRES
Program trading surged last week on the NYSE Euronext's (NYX)
New York Stock Exchange, while total volume grew as the market
reacted to housing news, the Federal Reserve's interest rate
meeting and the ongoing banking-overhaul legislation.
The daily program trading volume average was 1.44 billion, or
46.6% of the average total of 3.41 billion. Those figures were up
from 912.6 million, or 34.3% of the 2.66-billion-average volume
posted the prior week.
The most active NYSE member for program trading last week was
Morgan Stanley (MS). It was followed by Goldman Sachs Group Inc.
(GS), Citigroup Inc. (C) and Deutsche Bank AG (DB, DBK.XE).
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