LYCOS RETRIEVER
New York Stock Exchange: Nyse Euronext
built 655 days ago
Countrywide Financial Corporation does not believe that withdrawing its listing from NYSE Arca, Inc. will have any impact on the liquidity of its stock. NYSE Arca, Inc. will continue to trade Countrywide Financial Corporation stock on an unlisted trading privilege basis.
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In order to reduce record stock-market volume, on October 20 the NYSE curbed the use of its electronic order-delivery system, forcing many traders to turn away orders. The overall turmoil and tremendous loss to investors earned the name 'Black Monday.' The overall crisis became known as the Crash of 1987.
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Investors hope the NYSE will continue to enjoy the bullish reception that Archipelago, options exchange CBOT Holdings and other exchanges did after they went public. Archipelago has soared 459% since its August 2004 IPO, and CBOT is up 125% since its October IPO.
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