DOW JONES NEWSWIRES
Program-trading activity fell on the New York Stock Exchange
last week as overall volume also declined, according to the latest
data from the NYSE Euronext (NYX) unit.
For the week ended April 6, average daily program-trading volume
totaled 489 million shares, making up about 31% of the average
daily total volume. A week earlier, program trading totaled 545.6
million shares, making up roughly 32% of the average daily total
volume.
For the latest week, average daily total volume was 1.6 billion
shares, down from the prior week's 1.68 billion shares.
The most-active NYSE-member firm for program trading last week
was Goldman Sachs Group Inc. (GS), followed by Morgan Stanley
(MS).
Program trading encompasses a wide range of portfolio-trading
strategies involving the purchase or sale of a basket of at least
15 stocks.
-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108;
ben.rubin@dowjones.com