By Kristin Jones
Program-trading activity and overall volume rose sharply on the
New York Stock Exchange last week, according to the latest
statistics from NYSE Euronext (NYX).
Daily program-trading volume for the week ended June 28 was 1.11
billion shares, or 44% of the average daily volume. In the prior
week, program-trading volume was 791.2 million shares, or 35.1% of
the daily volume.
Total average daily volume in the latest week was about 2.52
billion shares, up from 2.26 billion shares the week earlier.
The most active NYSE-member firm for program trading last week
was Bank of America Corp.'s (BAC) Merrill Lynch, followed by
Goldman Sachs Group Inc. (GS) and Morgan Stanley (MS).
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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