NYSE Group acquires MatchPoint Trading

By: Ray Pellecchia

File Under: MatchPoint

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...and some more news!

NYSE Group Acquires MatchPoint Trading, Inc.; excerpt from press release:

The NYSE Group, Inc. (NYSE: NYX) today announced its July 17 acquisition of trading technology via a transaction with MatchPoint Trading, Inc., a financial services technology company specializing in call market trading and technologies.

“This acquisition gives the NYSE Group and its clients a strong platform for technological growth in benchmark trading,” said Mike Cormack, NYSE Group Executive Vice President. “This is a significant step toward our goal of offering customers the most comprehensive and all-encompassing set of trading technology solutions that meet their needs and exceed their expectations.”

“MatchPoint was created to champion next generation crossing opportunities for today’s evolving marketplace,” said Jim Ross, MatchPoint Trading Founder and CEO, who will join the NYSE Group as Vice President of Crossing Technology. “By bringing our innovative, point-in-time benchmark crossing services to the NYSE Group we can now offer the advantages of the MatchPoint engine to investors, issuers and market professionals around the world.”

Combining cutting edge trading technologies with veteran crossing industry expertise to develop and establish highly attractive crossing opportunities for institutions and brokers, MatchPoint’s expansive and innovative trading technology will enhance the suite of crossing services provided by the NYSE in the first quarter of 2007.