Archipelago Exchange

NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is an exchange on which both stocks and options are traded. It is owned by Intercontinental Exchange and is headquartered in Chicago.

Early reports indicated that NYSE Arca may have played a role in the 2010 Flash Crash.

In November 1994, Stuart Townsend and Gerald Putnam founded TerraNova Trading LLC, an electronic securities exchange, in Chicago. Its product, Archipelago, started accepting trading orders on January 20, 1997.

In 2005, Archipelago Holdings, the owner of ArcaEx, bought the Pacific Exchange, after what had been a close working relationship since 2001.

On Monday, March 20, 2017, the Arca platform stopped functioning due to a "system issue" and the exchange was unable close trading for an undetermined number of funds.

NYSE Arca's liquidity fee and rebate structure resembles that of other electronic communication networks. In late 2006, it was the first one to offer NASDAQ-style fees on -listed securities, a move that was soon copied by NASDAQ and other electronic communication networks. NYSE Arca charges traders that remove liquidity from the Arca-book $3.00 per 1,000 shares. Traders that add liquidity receive a $2.00 rebate per 1,000 shares. Traders that route orders out of the NYSE Arca system are charged $1.00 per 1,000 shares for Tape A securities and $4.00 per 1,000 shares for other securities.

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