|Founded||1994-2006 (merged with NYSE)|
|Key People||Co-founder, CEO and Chairman Jerry Putnam|
|Products||electronic stock exchange|
Archipelago Holdings owned the Archipelago Securities Exchange, one of the first electronic trading platforms to operate a national stock exchange. The company was later acquired by the New York Stock Exchange (NYSE) to form the NYSE Group.
Archipelago was co-founded in Chicago in 1997 by Gerald D. (Jerry) Putnam, founder of daytrader TerraNova Trading LLC, and Stuart Townsend, founder trading software developer Townsend Analytics Ltd. The Archipelago Securities Exchange merged with the Pacific Stock Exchange in 2000 and later became a competitive threat to both the NYSE and NASDAQ.
In 2005 the NYSE announced a plan to buy Archipelago Holdings and concurrently form a demutualized, publicly-traded company then called NYSE Group and now known as NYSE Euronext. The deal gave Archipelago 30% of the shares in NYSE Group, valuing it at around $850 and the combined group at around $3 billion based on 2005 prices. The original Archipelago Securities Exchange is now called NYSE Arca.
Former Archipelago Holdings CEO and Chairman Gerald D. Putnam later served as president and co-chief operating officer at NYSE Euronext and is currently senior advisor of Corporate Strategy, Technology Integration & Derivative Products with the group.
- ↑ Archipelago Holdings LLC. Ecommerce.
- ↑ NYSE applies quick fix. San Francisco Chronicle.
- ↑ NYSE Euronext, Inc.. BusinessWeek.