Archipelago Holdings

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Archipelago Holdings
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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.

History

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.[1] The Archipelago Securities Exchange merged with the Pacific Stock Exchange in 2000 and later became a competitive threat to both the NYSE and NASDAQ.

Sell

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.[2] The original Archipelago Securities Exchange is now called NYSE Arca.

Key People

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.[3]

References

  1. Archipelago Holdings LLC. Ecommerce.
  2. NYSE applies quick fix. San Francisco Chronicle.
  3. NYSE Euronext, Inc.. BusinessWeek.


History

Products and Services

Key People

References