More Thain, this from a wide-ranging interview with CNBC's Maria Bartiromo, in Davos. Biggest opportunity in Hybrid, he forecasts, is the growth of trading volume.

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Jan
27
2006

12:00 PM

"We have to give our customers what they're looking for."

By: Ray Pellecchia: File Under: NYSE

That's Thain at Davos, quoted along with other leaders by Business Week. Here's link:

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Jan
27
2006

8:42 AM

Thain in Davos: NYSE to play leadership role in bourse M&A

By: Ray Pellecchia: File Under: NYSE

NYSE CEO John A. Thain spoke with reporters at the World Economic Forum about market consolidation and other issues. Here's some of the coverage.

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Jan
25
2006

10:25 AM

Q&A: Quotes must be "fast" to receive price protection

By: Ray Pellecchia: File Under: NYSE

Under Reg. NMS, can traders trade through a "manual" quote?

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Jan
24
2006

10:15 AM

CBOE: Hybrid system working well for members and customers

By: Ray Pellecchia: File Under: NYSE

"What we have now is a new hybrid system that is working well for our members and customers," says the head of the CBOE.

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Jan
24
2006

9:45 AM

Will ECNs make the Hybrid Market obsolete? Not!

By: Ray Pellecchia: File Under: NYSE

A blogger posts: "It would seem that the market is really asking for a completely electronic system like that of Archipelago's." We beg to differ.

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Jan
20
2006

10:25 AM

To clarify: Hybrid and merger

By: Ray Pellecchia: File Under: NYSE

It is not the merger that will make things faster. It is our customers, and by extension, the Hybrid Market.

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Jan
20
2006

8:45 AM

"Nasdaq glitches create stock errors worldwide"

By: Ray Pellecchia: File Under: NYSE

Again following up yesterday's posts: here's an example of what made it into print today. A quick search of the 'Net indicates that this and similar stories were picked up in more than 400 print and TV reports.

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Jan
19
2006

5:00 PM

NYSE advises customers about NASDAQ problem that confused the market

By: Ray Pellecchia: File Under: NYSE

Here's a follow-up to our earlier post about the Nasdaq glitch. The solution: use the NYSE-only price (instead of the consolidated price) for yesterday's closing price in NYSE-listed stocks. And nyse.com now has all the corrected prices.

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Jan
19
2006

2:00 PM

Speaking of glitches...

By: Ray Pellecchia: File Under: NYSE

Another Nasdaq glitch messes up stock prices, and -- lucky us -- it's NYSE-listed stocks that are impacted, the Associated Press reports. Plus, the usual Nasdaq mythinformation.

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Jan
19
2006

11:00 AM

Ensuring reliable access in crunch time, when you need it most

By: Ray Pellecchia: File Under: NYSE

By its very nature – daily and widely seen – the reliable operation of the New York Stock Exchange tends to be taken for granted. Understandably so. It’s only when the rare hiccup occurs here, or a glitch happens somewhere else (such as just happened in Tokyo), that anyone has cause to pay attention to this little-discussed but important issue.

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Jan
18
2006

8:00 AM

Become like Nasdaq? Perish the thought!

By: Ray Pellecchia: File Under: NYSE

There are many features of the NYSE market – both today and in the Hybrid model – that discourage flickering quotes, promote the use of limit orders, and overall create deep, liquid and transparent markets.

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Jan
17
2006

8:30 AM

Hybrid Market 101: A project update

By: Ray Pellecchia: File Under: NYSE

Just shy of one month into the pilot introduction of Hybrid Market Phase I, here's where we're at: a rundown on new features, how it's going so far (very well!), and what's next.

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Jan
16
2006

11:32 AM

Market will recognize value of human interaction

By: Ray Pellecchia: File Under: NYSE, NYSE

I think it is only a matter of time until there is a shift in certain kinds of orders back to the value added that only human intervention can provide. Far from being dead, it would seem to me that the concept of human intervention had suffered against the theoretical potential of purely electronic transaction.

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Jan
13
2006

11:00 AM

Revised CMS spec in the works

By: Ray Pellecchia: File Under: NYSE, NYSE

What, if any, technical changes will be required for DOT customers using SIAC CMS in order to fully support the Hybrid system?

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Jan
13
2006

8:20 AM

Will Hybrid increase volume?

By: Ray Pellecchia: File Under: NYSE, NYSE

More automation will free specialists and brokers to provide more value, making our market more attractive overall.

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Jan
13
2006

7:41 AM

The kids are alright. Really, we are!

By: Ray Pellecchia: File Under: NYSE

The kids are alright, despite what you might have read.

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Jan
12
2006

1:03 PM

Reuters: SEC may overhaul stock trading in stages

By: Ray Pellecchia: File Under: NYSE

The wire service quotes SEC Commissioner Annette Nazareth saying, "If it isn't fully implemented in June, I think it will be well under way."

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Jan
12
2006

9:00 AM

Hybrid 101: Regulating the Market

By: Ray Pellecchia: File Under: NYSE

The NYSE's commitment to the highest levels of market integrity and instor protection is reaffirmed with the introduction of the NYSE Hybrid Market. NYSE Regulation has been involved in every stage of the Hybrid Market's development, and that's evident in an architecture that features new checks and balances.

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Jan
11
2006

4:59 PM

Another day, another NYA record high

By: Ray Pellecchia: File Under: NYSE

The measure of the market breaks a record set, um, the day before yesterday.

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Jan
11
2006

1:50 PM

WSJ: SEC May Delay NMS

By: Ray Pellecchia: File Under: NYSE

According to the Journal, the SEC " is considering whether to delay new trading rules scheduled to go into effect this summer that, among other things, will require that investors' trades be completed at the best price that can be executed immediately."

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Jan
11
2006

9:00 AM

Hybrid 101: More about Specialist API messages

By: Ray Pellecchia: File Under: NYSE

The Specialist API will help specialists make trading decisions quickly and provide liquidity when needed as well as a more robust audit-trail capability. Unit 17 of the Hybrid Training program explains how.

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Jan
10
2006

9:00 AM

Hybrid 101: Other Specialist API Messages

By: Ray Pellecchia: File Under: NYSE

Number 16 in the Hybrid Training Program discusses how specialists can:
· add liquidity by buying and selling from established bids and offers,
· facilitate single-price executions, and
· provide the best price nationally to NYSE customers.

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Jan
09
2006

4:58 PM

Market hits a record high -- on the NYA, that is

By: Ray Pellecchia: File Under: NYSE

Which major market index set a new record today? Hint: it ain't the Dow.

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Jan
09
2006

9:00 AM

Can you read me now?

By: Ray Pellecchia: File Under: NYSE

The list of active pilot stocks is now in a more commonly used font.

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Jan
09
2006

9:00 AM

Hybrid 101: Specialist API and price improvement

By: Ray Pellecchia: File Under: NYSE

Price improvement, one of the the hallmarks of the NYSE market, is one of the features of the Specialist API. When can specialists provide price improvement in the Hybrid Market?

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Jan
06
2006

12:00 PM

NYA gets some love

By: Ray Pellecchia: File Under: NYSE

Measuring the cycles of the market with the New York Stock Exchange Composite Index.

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Jan
06
2006

9:00 AM

No merger news? Take another look...

By: Ray Pellecchia: File Under: NYSE

The latest news on the merger? It's all here, and out there.

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Jan
06
2006

9:00 AM

Hybrid Market 101: NYSE s-Quote

By: Ray Pellecchia: File Under: NYSE

Algorithmically entered s-Quotes will provide specialists the ability to quickly respond and react to market activity in ordered to add depth and tighten spreads.

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