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NYSE Trader

Bear Wagner Specialist Business to Transition to Barclays Capital

11 Mar 2009

NYSE Euronext has announced that Barclays Capital, the investment banking division of Barclays Bank PLC, has agreed to acquire the portfolio of New York Stock Exchange Designated Market Maker (DMM) assignments of Bear Wagner Specialists LLC, a subsidiary of J.P. Morgan.


The transition of DMM assignments from Bear Wagner to Barclays Capital is expected to occur in April 2009, subject to regulatory approvals and other customary terms and conditions, after which Barclays Capital will be the largest DMM on the NYSE, representing more than 850 NYSE-listed issues and approximately 28 percent of the NYSE’s average daily trading volume. Following this addition, the Barclays Capital book will include seven components of the Dow Jones Industrial Average index, 25 components of the Standard & Poor’s 100 Index and 109 components of the Standard & Poor’s 500 index.

NYSE Euronext News Release

Category: Traders


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