NYSE Arca is an electronic securities exchange in the U.S. on which exchange-traded products (ETPs) and equities trade. The exchange specializes in ETP listings, which include exchange-traded funds (ETFs), exchange-traded notes (ETNs) and exchange-traded vehicles (ETVs). As well as placing typical orders, NYSE Arca allows investors and traders to participate in opening and closing auctions in ETFs and place mid-point orders that sit between the bid and ask price.
As of 2018, NYSE Arca is the world's leading ETF exchange in terms of volume and listings. The exchange commands 22% of the ETF market share in the United States and lists over 1,500 individual ETFs. NYSE Arca listed ETFs have roughly $3 trillion in assets under management (AUM). The exchange has the third largest market share of U.S. equities – 5.8%, behind the New York Stock Exchange (NYSE) and Nasdaq.
NYSE Arca formed in 2006 after the NYSE acquired Archipelago, a leading electronic exchange network (ECN). Created in 1996, Archipelago, was one of the first ECNs to facilitate electronic trading on major U.S. exchanges, such as the NYSE, NASDAQ and American Stock Exchange, through the Archipelago Exchange (ArcaEx) in 2001. By the mid-2000s, Archipelago had widespread usage from institutional trading firms that utilized the exchange's fast execution speeds and liquidity pools. Critics of the merger suggested it would end floor trading that has been in place since the NYSE's inception in 1817. However, large-cap stocks continue to get traded on the NYSE using the open outcry method. NYSE Arca's parent company is Intercontinental exchange after it purchased NYSE Euronext in 2012.
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Trading floor refers to an area of an exchange where trading activities take place.
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Where can I find information about pre- and after-hours trading on the NYSE and the Nasdaq?