By Kristin Jones
Program-trading activity on the New York Stock Exchange declined
last week, while overall volume increased, according to data from
the NYSE Euronext (NYX) unit.
For the week ended Sept. 14, daily program-trading volume
totaled 432.7 million shares, making up 29.2% of the average daily
trading volume. A week earlier, program-trading volume totaled 452
million shares, making up 32.2% of the average daily trading
volume.
Overall average daily volume totaled 1.48 billion shares, up
from the previous week's 1.4 billion shares.
The most active NYSE-member firm for program trading last week
was Morgan Stanley (MS), followed by Goldman Sachs Group Inc. (GS)
and Barclays PLC (BCS, BARC.LN).
Program trading encompasses a wide range of portfolio-traded
strategies involving the purchase or sale of a basket of at least
15 stocks.
Write to Kristin Jones at kristin.jones@dowjones.com
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