The previously shuttered National Stock Exchange re-launched trading operations for equity securities and ETFs starting this morning. On December 14, the SEC gave approval to NSX to re-launch its trading operations.
NSX will offer low price market access fees by charging a flat, non-preferential fee schedule of $0.00 to add (post) liquidity and $0.0003 to take (remove) liquidity, according to a company statement.
Based in Jersey City, the exchange shut down operations in late May 2014 after failing to attract adequate trading volume. The NSX is now lead by a new ownership group and management team that have added needed capital and restructuring. NSXs re-launch plan provides for a phased roll-out of all equity and ETF symbols beginning today to be completed on December 31, 2015.
We are here for one reason and one reason alone: to provide market solutions that bring about real and positive changes that traders and institutional firms have been asking for over the course of several years, but the industrys response has only been to talk the talk. We, however, are going to walk the walk, and act on several specific ideas and concepts that continue to be requested by industry leaders, said Mark Sulavka, NSXs chairman and CEO, and leader of NSXs new ownership group.
The NSX began as the Cincinnati Stock Exchange in 1885 and is owned by the CBOE Stock Exchange.
Sulavka added, We see opportunity in investing in the business where others in the exchange industry see only cost-cutting, status quo and retrenchment. Going forward, our focus and priorities are to roll out technology that structurally improves the relationship between brokers and their buy-side institutional clients.
NSX is a National Securities Exchange and Self-Regulatory Organization registered with and regulated by the SEC. NSX is also a member of the National Market System, whose membership includes the NYSE, AMEX, Nasdaq, and BATS Exchange.
