Tuesday, January 11, 2005

AIG Joins ArcaEx!

"AIG firmly believes in the benefits of electronic trading and our dual listing on ArcaEx is proof of our dedication to creating and supporting the best trading environments for our investors. AIG shareholders should benefit from the enhanced transparency that an ArcaEx dual listing provides.""
-AIG Chairman and CEO M.R. "Hank" Greenberg on January 11, 2005

Here's the scoop on AIG's decision to join ArcaEx:

Today's announcement is good news on a couple of levels:

1) Management: During last quarter's earnings call, Jerry Putnam, Arca's CEO, told analysts and shareholders that Arca's short-term goals center around growing their listings SPECIFICALLY through "dual listings" between NYSE and ArcaEx. Today's news about AIG highlights management's ability to execute.

2) Revenue: As of last quarter, Arca's revenue from listings was ~.01% of total revenue. It's nice to see this line grow.
		    Three months ended               

September June September
30, 30, 30,
2004 2004 2003
isting fees 118 117 24
Total revenues
127,141 128,770 126,891


Post a Comment

<< Home

Free Web Counters