NYSE Arca continued to lead the Exchange Traded Products (ETPs) marketplace with record high numbers for new listings and trading volume in 2011. 45 issuers listed 297 new ETPs on the NYSE Arca all-electronic trading platform - a new annual record greatly exceeding the 220 ETPs listed in 2010. ETPs now represent 32% of all U.S. equity trading in traded value which is a 6% increase in ETP trading over 2010.
ETP issuers benefit from NYSE Arca’s Lead Market Making (LMM) Program which helps maintain superior market quality for both high and low volume securities as well as for newly launched ETPs that depend on narrow spreads and depth of book. The LMM program is designed to encourage liquidity and contributes to some of the best prices and depth of market in the ETP marketplace. Issuers have a choice of 12 LMM firms who work to maintain high quality markets for the products they represent.
In addition, NYSE Arca provides ETP issuers with objective, thoughtful and experienced advice. We assist international exchanges, investment managers and service providers in pursuing opportunities in the rapidly expanding global ETP market. We provide step-by-step assistance on how to list ETPs including symbology, regulatory requirements, review of product concepts, infrastructure support and much more.
During January 2012, the ETP industry continued to expand with 14 new listings representing a total of $69.6 million in assets under management. These results are a testimony to the value of our beneficial market structure and the unique consultative approach that we provide our valued customers. We thank our customers for another successful year and look forward to expanding our partnership with both new and existing issuers who continue to list innovative products that promote the growth of the ETP industry.