Where Todays Leaders Are Changing the World

Leadership defined by our market model, network, global visibility and services

How NYSE is helping great companies do great things

Companies host thousands of events at the Exchange

Data and analytics to support your IR program

Critical to floor operations and offering global visibility

Forms, fees, manuals, applications and standards for our markets

The worlds most trusted equities exchange

Combining the high performance of NYSE Pillar technology with a taker/maker fee schedule

Supporting the institutional brokerage community

Offering traders deep liquidity across listed option contracts

Offering an anonymous, flat, open market structure

Access to live, executable, transparent prices

Notices, fees, rules, calendars, forms and order types for our markets

Announcements and market updates for our trading community

System status alerts for our market community

View market quality, program trading, rule 605 and other reports

Our integrated trading technology platform that connects to all of our equities and options markets

Promoting price improvement for individual investors on retail order flow for NYSE listed securities

Low-latency, real-time market data feeds cover the various asset classes and markets in the NYSE Group

Cross asset class data across markets in the NYSE Group and on the CTA and UTP nationally consolidated data feeds

Designed to improve risk management and provide insights into key company transaction activity

Summary, constituents, rebalance, and daily corporate actions data

Volumes, transactions and other market reporting

Data Pricing, Policies, Contracts & Guidelines

Required contracts, documentation, and policies which govern vendor use and distribution of NYSE market data

Specifications, post trade user guides for connectivity

Connecting the global market community to the broadest ranges of data sources

Eligible products and policies for academic use

Filings, amendments, SEC releases, extensions, and withdrawals

Interpretations, info memos, weekly and education bulletins, and rule changes

Threshold securities listed for every settlement day.

Issuers noncompliant with standards of delaying filing annual or interim reports

List of discretionary/nondiscretionary vote determinations

Go behind the scenes of the most fascinating workplaces

Conversation with C-suite executives from Fortunes Most Powerful Women Summit

Conversations with leaders, entrepreneurs, and visionaries

An exchange-traded note (ETN) is a senior unsecured debt obligation designed to track the total return of an underlying market index or other benchmark, minus investor fees. They can offer investment exposure to market sectors and asset classes, which may be difficult to achieve in other investment types with the same level of cost-efficiency, and they can act as an effective hedging tool.

An ETN allows individual investors to buy an obligation, which is traded on an exchange. ETNs may be linked to a wide variety of assets. Today there are many types of ETNs linked to indices and/or single reference assets based on a variety of products such as commodity futures (e.g., energy, grains, industrial metals, livestock, and petroleum), foreign currencies (e.g., Euro, yen), and equities (grouped by such categories as industry sector, strategy or geographic location).

ETNs are similar to exchange-traded funds (ETFs) in that theyre listed on an exchange and can be bought and sold throughout the trading day. The issuer of an ETN is obligated to deliver the index or asset performance (less fees) in cash upon early repurchase or maturity. An investor generally may initiate early repurchase of an ETN when tendering a sizeable minimum amount of securities as specified in the prospectus (either dollar value, such as two million dollars, or number of notes, such as 50,000 notes). Early repurchase may be elected on either a daily or weekly basis, as provided in the prospectus. It is also important to note that the early repurchase feature does not eliminate the credit risk associated with this type of investment. Early repurchase is not available to investors for less than the specified minimum. Its important to review the relevant prospectus on this point, since this could have an impact on an ETNs liquidity.

ETNs are not rated, but are tied instead to the creditworthiness of the issuer. Thus, the issuers credit rating is an important consideration for ETN investors. Typically, ETNs have a repurchase feature, providing qualified investors, known as authorized participants, the election to redeem notes of at least a specified minimum denomination or value with the issuer on a daily or weekly basis at a predetermined price. Individual investors, not qualified for redemption election, can purchase or sell their ETNs in the secondary market, sell at a specified issuer call event, or allow them to mature.

ETNs are traded and settled on a stock exchange, the same as any equity, and can be purchased and held in ordinary brokerage or custodial accounts

ETNs do not involve any of the difficulties with buying and then managing a futures position (eg. worrying about margin calls, contracts expiring and rolling positions) or in buying and storing physical assets.

ETN pricing is based on a transparent formula with the pricing updated daily by the issuer

NYSE Arca is the market leader in ETNs, with more than 200 ETNs listed in the U.S.