December 24, 2007 at 1:00 am by Tom Lydon
It’s a move that will no doubt be a lot less controversial than Bob Dylan’s decision to go electric in 1965: by year’s end, the New York Stock Exchange will have moved exchange traded funds (ETFs) to its electronic platform.
The platform, the NYSE Arca, was launched in April. Moving ETFs to the platform simplifies trading and processing, writes Jesse Emspak at Investor’s Business Daily. It eliminates the need for intermediaries to trade and price the funds, so trading will be faster, and Arca automatically seeks the best price for a trade no matter which exchange the security resides on.
Tags: Media
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