DOW JONES NEWSWIRES
Program-trading activity declined on the New York Stock Exchange
last week as overall volume increased, according to the latest data
from the NYSE Euronext (NYX) unit.
For the week ended May 11, average daily program-trading volume
totaled 433.7 million shares, making up roughly 25.7% of the
average daily trading volume. A week earlier, program trading
totaled 511.7 million shares, making up about 30.4% of the average
daily trading volume.
For the latest week, average daily total volume was 1.69 billion
shares, up from the prior week's 1.68 billion shares.
The most active NYSE-member firm for program trading last week
was Morgan Stanley (MS), followed by Barclays PLC's (BCS, BARC.LN)
Barclays Capital Inc. and Goldman Sachs Group Inc. (GS).
Program trading encompasses a wide range of portfolio-trading
strategies involving the purchase or sale of a basket of at least
15 stocks.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283;
melodie.warner@dowjones.com