NYSE Proposes to Offer Free Realtime Prices
-- Media and Internet Providers Will Buy Data from NYSE and Offer It Free to the Public
NEW YORK, June 12, 2008 – The New York Stock Exchange (NYSE), a subsidiary of NYSE Euronext (NYX), has proposed to the Securities and Exchange Commission (SEC) to introduce a new data product called NYSE Realtime Reference Prices that will allow media and Internet organizations to buy real-time, last-sale market data from the NYSE and provide it broadly and free of charge to the public. The NYSE anticipates that several major information providers will offer the data, and plans to launch the new product on or before July 1, 2008 for a four-month pilot program, pending SEC approval.
“NYSE Realtime Reference Prices will increase the transparency of the world’s leading equities exchange for the benefit of investors and issuers,” said Ronald Jordan, executive vice president, Market Data. “At the same time, our proposal provides for a fair and reasonable economic incentive to the Exchange to produce this data, which we believe is consistent with the approach recently outlined by the SEC.”
In contrast to the administration of traditional data products, providers disseminating NYSE Realtime Reference Prices will not have to count and report the number of users to the Exchange, nor contract with each user. Instead, the providers will be able to purchase the data from the NYSE for a flat monthly fee. The NYSE was the first exchange to propose such an approach when it originally submitted a proposal to that effect in January 2007. |
