Securities Industry Automation Corporation

The Securities Industry Automation Corporation (SIAC) is a subsidiary of the NYSE 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).[1]

Origins

SIAC was created on July 17, 1972 as a wholly owned subsidiary of the NYSE and American Stock Exchange.[2] The NYSE owned two thirds of SIAC, while the AMEX owned one third. On November 1, 2006, NYSE Euronext purchased AMEX’s stake for $40 million.[3]

References

  1. ↑ "Securities Industry Automation Corporation". www.nyif.com.
  2. ↑ "Securities Industry Automation Corporation: Private Company Information - Bloomberg". www.bloomberg.com.
  3. ↑ "US Securities and Exchange Commission". www.sec.gov.
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