DOW JONES NEWSWIRES
Program trading rose last week on the NYSE Euronext's (NYX) New
York Stock Exchange as overall trading picked up.
For the week ended Sept. 18, program trading averaged 1.07
billion shares daily of the 3.35 billion that changed hands, or
31.9%. In the prior week, 748.7 million shares, or 26.9% of average
daily volume of 2.78 billion, were part of program trades. The
prior week included four days of trading.
The most active NYSE member firms for program trading last week
was Goldman Sachs Group Inc. (GS), at 1.07 billion for the entire
week, followed by Morgan Stanley (MS) at 725.4 million, Credit
Suisse Group (CS) at 716.9 million and Barclays PLC (BCS) at 626.9
million. The four were far above any other member firm and the
figures were drastically higher than the prior week.
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