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March 23, 2005

Arca Awake in the Wee Hours

By Gregory Bresiger

ArcaEx is rising in the wee hours for European traders. The Securities and Exchange Commission recently approved a plan by Archipelago Holdings, operator of ArcaEx, to start trading at 4.00 a.m. (EST) instead of the current 8.00 a.m.

"There has been demand for this for some time from our European clients," ArcaEx spokeswoman Margaret Nagle told Traders Magazine. Archipelago officials have said that European investors will benefit from price discovery available on ArcaEx. The early opening, they say, is important for investors trading ADRs and other exchange-listed foreign stocks.

Nagle said that, at this point, the amount of trading likely would not be substantial. At press time, Nagle was expecting the earlier opening to be fully available without delay.