NYSE to launch new national exchange in second quarter

New York Stock Exchange parent Intercontinental Exchange Inc (ICE) plans to launch its fourth U.S. stock market, NYSE National, in the second quarter, according to a recent regulatory filing.

NYSE National will be the 13th U.S. stock exchange and will differ from the NYSE, NYSE Arca, and NYSE American in that it will only be a trading venue and not a listing market, NYSE said in the Jan. 12 filing with the U.S. Securities and Exchange Commission.

Adding an extra exchange could help NYSE earn more revenue from trading and market data sales, as well as help the exchange operator maintain its No. 1 position in U.S. stock trading volumes, ahead of Cboe Global Markets and Nasdaq Inc. NYSE also competes against IEX Group and the Chicago Stock Exchange.

NYSE closed its deal to buy the National Stock Exchange Inc on Jan. 31, 2017 and then shuttered the exchange on Feb. 1. Since then NYSE has shifted the exchange over its trading technology platform Pillar.

NYSE has said it would seek input from the trading industry before finalizing operational plans for NYSE National's launch.

(Reporting by John McCrank; Editing by Sandra Maler)