- Electronic Exchange Known for Innovation in Equities Trading to Develop Unique Trading Technology for Options Market -

CHICAGO, Nov. 14 /PRNewswire-FirstCall/ -- Archipelago Holdings Inc., owner and operator of the Archipelago Exchange(R) (ArcaEx(R)), the nation's first totally open, all-electronic stock exchange, today unveiled the initial plans for the development of a next generation options trading platform at the Archipelago Options Advisory Meeting. The new platform, which will replace the PCX Plus trading system, is designed to offer significant improvements in trading system performance, functionality and reliability. The announcement comes on the back of the Archipelago's completion of its acquisition of the Pacific Exchange.

"By creating a new technology platform for options trading, we will be better positioned to implement our vision of a multi-product single platform exchange," said Jerry Putnam, CEO of Archipelago. "Options are a dynamic product class where we see significant opportunity, and building this new system is evidence of our commitment to, and the opportunities we see in this market."

The new trading system, which is being developed internally, is being created using components and processes currently in use by ArcaEx's equity trading system and will integrate relevant functionality of the existing PCX Plus system.

"As we develop this new platform, it is critical for us to get feedback from our clients," said, Matt Gelber, Executive Managing Director of Derivative Products. "We are focused on having a differentiated and valuable product offering for options traders and the best way to accomplish this is by being responsive to the needs of the marketplace."

The company plans to file any required rule filings with the SEC in the coming weeks and pending all necessary approvals, expects to begin the transition to the new trading platform in the second quarter of 2006.

About ArcaEx

Archipelago Holdings (PCX: AX) operates the Archipelago Exchange(R) (ArcaEx(R)) the first totally open all-electronic stock exchange in the United States. ArcaEx trades all Nasdaq-listed equity securities and exchange listed equity securities, including those listed on the New York Stock Exchange(R), American Stock Exchange(R), and ArcaEx(R). In addition to offering core execution services, ArcaEx provides corporate clients with listing services and innovative data products. In 2004, Archipelago launched ArcaVision to provide corporate and trading clients with more transparent market data, analytical tools and access to market-wide and ArcaEx specific trading information. For more information please visit http://www.archipelago.com.

Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on Archipelago's current expectations and involve risks and uncertainties that could cause Archipelago's actual results to differ materially from those set forth in the statements. There can be no assurance that such expectations will prove to be correct. Factors that could cause Archipelago's results to differ materially from current expectations include: general economic and business conditions, industry trends, competitive conditions, regulatory developments as well as other risks or factors identified in the Company's filings with the Securities Exchange Commission, including its Report on Form 10-K for the fiscal year ending December 31, 2004 and the Registration Statement on form S-4 filed by the NYSE Group, Inc., which was declared effective on November 3, 2005 and which is available on the Company's website at http://www.archipelago.com. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. Except for any obligation to disclose material information under the Federal securities laws, Archipelago undertakes no obligation to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this press release.

SOURCE Archipelago Exchange

CONTACT:
Margaret Nagle, Archipelago, +1-312-442-7083
Web site: http://www.archipelago.com