Gerald Putnam
Encyclopedia
Gerald Putnam is an American
businessman. He started Archipelago holdings
, an electronic communication network
, in 1999. In 2006; it was acquired by the NYSE for almost $
3 billion. Putnam was selected as one of the innovators of 21st century by Time
magazine.
ArcaEx, Putnams' company, was built to instantly look at the Arca exchange for best prices and if not matched then to route to the bourse that displayed the best price.
When Putnam headed Arca's purchase of the Pacific Stock Exchange, he created the first ECN that was also a stock exchange. He also took Arca into options trading. John Thain
, a perennial deal maker, did his first major deal since taking the helm at the NYSE when he merged with Arca.
This merger caused the 212-year-old (at time of merger) NYSE to demutualize and make an initial public offering
. NYSE seatholders were each given roughly 80,000 shares of NYX in exchange for their now-obsolete NYSE seats. Shortly after the IPO the members-only luncheon club and barber shop and 20% of the old-fashioned trading floor were closed.
The newly established public NYSE soon merged with Euronext
to form NYSE Euronext.
The company declared its first dividend
in June 2007. Putnam was promoted to Vice Chairman and given additional responsibility overseeing SIAC. In August 2007, Putnam announced that he would leave his managerial duties with the NYX and remain involved as a consultant with an office in Chicago.
In February of 2011 Putnam moved from the his position on the board to the acting CEO of Trumarx Data Partners in Chicago. TruMarx Data Partners developed and currently operates COMET. COMET is the community of energy transactors. Which is an ECN networking site connecting large bilateral non-standard over the counter transaction of natural gas and power transactors.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman. He started Archipelago holdings
NYSE Arca
NYSE Arca, previously known as ArcaEx, an abbreviation of Archipelago Exchange, is a securities exchange on which both stocks and options are traded...
, an electronic communication network
Electronic communication network
An electronic communication network is the term used in financial circles for a type of computer system that facilitates trading of financial products outside of stock exchanges. The primary products that are traded on ECNs are stocks and currencies. The first ECN, Instinet, was created in 1969...
, in 1999. In 2006; it was acquired by the NYSE for almost $
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
3 billion. Putnam was selected as one of the innovators of 21st century by Time
Time (magazine)
Time is an American news magazine. A European edition is published from London. Time Europe covers the Middle East, Africa and, since 2003, Latin America. An Asian edition is based in Hong Kong...
magazine.
ArcaEx, Putnams' company, was built to instantly look at the Arca exchange for best prices and if not matched then to route to the bourse that displayed the best price.
When Putnam headed Arca's purchase of the Pacific Stock Exchange, he created the first ECN that was also a stock exchange. He also took Arca into options trading. John Thain
John Thain
John Alexander Thain is an American businessman, investment banker, and currently chairman and CEO of the CIT Group.Thain was the last chairman and chief executive officer of Merrill Lynch before its merger with Bank of America...
, a perennial deal maker, did his first major deal since taking the helm at the NYSE when he merged with Arca.
This merger caused the 212-year-old (at time of merger) NYSE to demutualize and make an initial public offering
Initial public offering
An initial public offering or stock market launch, is the first sale of stock by a private company to the public. It can be used by either small or large companies to raise expansion capital and become publicly traded enterprises...
. NYSE seatholders were each given roughly 80,000 shares of NYX in exchange for their now-obsolete NYSE seats. Shortly after the IPO the members-only luncheon club and barber shop and 20% of the old-fashioned trading floor were closed.
The newly established public NYSE soon merged with Euronext
Euronext
Euronext N.V. is a pan-European stock exchange based in Amsterdam and with subsidiaries in Belgium, France, Netherlands, Portugal and the United Kingdom. In addition to equities and derivatives markets, the Euronext group provides clearing and information services...
to form NYSE Euronext.
The company declared its first dividend
Dividend
Dividends are payments made by a corporation to its shareholder members. It is the portion of corporate profits paid out to stockholders. When a corporation earns a profit or surplus, that money can be put to two uses: it can either be re-invested in the business , or it can be distributed to...
in June 2007. Putnam was promoted to Vice Chairman and given additional responsibility overseeing SIAC. In August 2007, Putnam announced that he would leave his managerial duties with the NYX and remain involved as a consultant with an office in Chicago.
In February of 2011 Putnam moved from the his position on the board to the acting CEO of Trumarx Data Partners in Chicago. TruMarx Data Partners developed and currently operates COMET. COMET is the community of energy transactors. Which is an ECN networking site connecting large bilateral non-standard over the counter transaction of natural gas and power transactors.