Program Trading Eases On NYSE Last Week After Prior Spike

9th Jul 2010 16:55

DOW JONES NEWSWIRES Program trading declined last week on NYSE Euronext's (NYX) New York Stock Exchange, retreating from the prior week's spike, as activity slowed ahead of the Fourth of July holiday weekend. Daily program trading volume average was 804 million, or 30.2%, of the average total of 2.66 billion shares changing hands. Those figures were down from 1.44 billion, or 46.6% of the 3.41 billion average volume posted a week earlier. The most active NYSE member for program trading last week was Goldman Sachs Group Inc. (GS). It was followed by Morgan Stanley (MS), Barclays PLC (BCS, BARC.LN) and Wedbush Securities Inc. Program trading encompasses a wide range of portfolio-trading strategies involving the purchase or sale of a basket of at least 15 stocks. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected] (END) Dow Jones Newswires July 09, 2010 11:55 ET (15:55 GMT)