The Securities Industry Automation Corporation (SIAC) is a subsidiary of the
NYSE Euronext
NYSE Euronext, Inc. was a Transatlantic relations, transatlantic Multinational corporation, multinational financial services corporation that operated multiple Stock exchange, securities exchanges, including the New York Stock Exchange, Euronext ...
. Its purpose is to provide technical services for the exchanges themselves, members and other financial institutions. In this role, SIAC provides the computers and other systems required to run the exchanges. It also owns communication lines and hardware to provide real-time quotes and transaction information to all market participants from the
Consolidated Tape/Ticker System (CTS),
Consolidated Quotation System (CQS), and
Options Price Reporting Authority (OPRA).
History
SIAC was created on July 17, 1972, as a wholly owned subsidiary of the
NYSE
The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It is the List of stock exchanges, largest stock excha ...
and
American Stock Exchange. The NYSE owned two thirds of SIAC, while the AMEX owned one third.
SIAC initially provided processing services for both NYSE and AMEX's
clearing corporations, and continued to do so when these merged into the
National Securities Clearing Corporation. As of 2002, the three remained SIAC's main sources of revenue.
On November 1, 2006, NYSE Euronext purchased AMEX's stake for $40 million.
[{{Cite web , date=2006-11-01 , title=NYSE Group Completes Acquisition of SIAC from Amex , url=https://www.sec.gov/Archives/edgar/data/1326579/000088237706003784/d586419.htm , access-date=2024-12-10 , website=U.S. Securities and Exchange Commission]
See also
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Options Price Reporting Authority
*
Consolidated Tape Association
*
Consolidated Quotation System
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Consolidated Tape System
*
Securities information processor
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National market system plan
A national market system plan (or Regulation NMS, NMS plan) is a structured method of transmitting security (finance), securities transactions in real-time. In the United States, national market systems are governed by section 11A of the Securitie ...
References
Companies based in New York City
Intercontinental Exchange