Securities Industry Automation Corporation
|This article needs additional citations for verification. (February 2008)|
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).
SIAC was created on July 17, 1972 as a wholly owned subsidiary of the NYSE and American Stock Exchange. 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.
Sector, Inc. was integrated with the business of Transacttools and SFTI to become NYSE Technologies. NYSE Technologies provides financial markets and market participants with an open, high performance, low latency and neutral platform for direct market access and global trading connectivity that improves liquidity and reduces risk. NYSE Technologies is a subsidiary of NYSE Euronext.
NYSE Technologies' Secure Financial Transaction Infrastructure (SFTI) - pronounced "safety" - is a communications network dedicated to the financial industry. The highly reliable, resilient and low latency network offers connectivity to NYSE as well as other exchanges, market centers and content service providers and also connects to over 800 market participants including all of the National Market System markets in the United States.