Barclays Capital announced today that following its acquisition of various assets of Lehman Brothers, it has opened as a market maker on the floor of the New York Stock Exchange (NYSE).
Barclays Capital will now act as a market maker for more than 400 NYSE-listed issues including 300 operating companies. In addition, it has employed the staff and taken over the technology of Lehman Brothers MarketMakers.
"Barclays Capital is a recognized leader in global finance, and we are extremely pleased to welcome them as NYSE Specialists," said Larry Leibowitz, Group Executive Vice President, Head of U.S. Markets and Global Technology, NYSE Euronext.
"We are delighted to have opened as a market maker on the NYSE so quickly after Lehman Brothers' bankruptcy," said Bill White, Head of Barclays Capital market maker business. "I would like to thank the NYSE and other regulators who have worked with us tirelessly to allow us to open today. We look forward to working with our clients and other market makers to provide clear, orderly and transparent pricing."
Specialists differentiate the NYSE market and contribute to the exchange's superior market quality and liquidity, and are integral in times of unusual market stress and volatility. In addition to Barclays, NYSE Designated Market Makers include: Banc of America Specialist; Bear Wagner Specialists LLC; LaBranche & Co. LLC; Spear, Leeds & Kellogg Specialists LLC; and Kellogg Specialist Group.
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