NYSE is set to have new digs in San Francisco when its NYSE West facility opens Monday, March 11.
Obviously, New York is the area most thought of when it comes to all things Buttonwood, but, through the Archipelago Holdings acquisition in 2006, which had purchased the Pacific Exchange, NYSE can trace its roots on the West Coast back to the formation of the San Francisco Stock and Bond Exchange in 1882.
NYSE West will be a new home for NYSE’s Arca options trading floor, but much like NYSE’s renovations to its 11 Wall Street location in New York, NYSE wants the new West Coast space to be a home, and listing lure, for companies on the other side of the country.
“Staying in downtown San Francisco was important – we wanted to maintain that anchor,” Ivan Brown, NYSE’s head of options, said. “From a listings point of view, continuing to have a stronger presence on the West Coast is important.”
NYSE Arca’s floor operation, in tandem with NYSE Amex, in ballpark terms, accounts for a quarter to a third of NYSE’s options volumes on a given day, so investing in that business was important, according to Brown.
This is not a new SRO, just a new facility for NYSE. (Recall that BOX Options had to go through extensive regulatory rigmarole to get a brand new options floor open last year.)