NY stock exchange hunts agency for global business
The New York Stock Exchange is reviewing its global advertising account and is understood to have contacted several agencies and networks in London and New York.
Fallon Minneapolis has been incumbent on the account since 2006, having worked for rival exchange Archipelago until its acquisition by NYSE.
The review, which will be overseen by NYSE marketing director Marissa Ricardo, comes at a critical time, with stock exchanges across the globe struggling with the stock price fluctuationsand ramifications of the credit crunch.
The NYSE announced its plans to acquire Archipelago in April 2005, in a deal intended to reorganise the group as a publicly traded company. In April last year, the group completed its merger with Euronext, the European combined stock market, to form NYSE Euronext, the first trans-atlantic stock exchange.
It is understood the winning agency would need both European and American offices, with a strong presence in both London andNew York.
The NYSE is the largest stock exchange in the world by dollar volume, but ranks third in terms of company listings with 3,200 companies, behind the Bombay Stock Exchange and Nasdaq. The exchange trades stocks for 2,800 companies, ranging from blue chips to new high-growth companies.
Fallon, then Fallon McElligot, was appointed to handle Archipelago’s advertising in 2000, four years after the electronic trading platform was launched. Its remit was later extended.
