Program trading is driven by specific trading strategies; can we predict how Hybrid will impact those strategies, if at all?
"The merger will close on March 7, 2006 and we plan to trade the first shares of the NYSE Group on March 8, 2006,” said John Thain. “This will mark the beginning of a new era for the Exchange and America’s financial markets."
Good news yesterday on the global listings front and on the NYSE Composite Index.
WCI joins the list, plus a poem you'll wish you'd missed.
Global growth was on the march in January at the Big Board.
Thain has the place firing on all cylinders, like the chrome heart of capitalism.
Eight stocks joined the Hybrid Market Phase I pilot today, bringing the total to 140 participating stocks.
To be mentioned on a global wire is cool, but if Reuters listed here, that would be REALLY cool.
A Nasdaq mole -- or maybe it was a squirrel -- has provided your humble blogger with a series of tape recordings of conversations that took place in Nasdaq’s marketing department over a period of years. Following are several excerpts.
Biz admin./fin. major seeks NYSE trdng. floor opp'ty. Inquire within.
You want to tell 90 million investors that we’re better off if the playing field isn’t level? Good luck with that.
"This is going to be a great year for watching shakedown cruises of New Market Machines, with the Hybrid Market as the Queen Mary of them all, of course."
Here's a one-page update on the new functionality in the pilot, how it's being used, and next steps.
Some pickup of the research on trading costs
"The NYSE commission structure makes trading more profitable."
In a new letter to the SEC, the NYSE responds to comments about the merger with Archipelago, assuring that NYSE Regulation will have both the independence and expertise necessary for effective regulation.
New research shows that for companies that transferred their listings to the NYSE from Nasdaq, price volatility, spreads and overall trading costs fell dramatically.
In Hybrid, displayed interest always trades before non-displayed interest.
Speed. Price discovery. The choice is properly in the customer's hands.
A reader posts: Why not refresh OpenBook with every order? Here's why. Plus a look at future possibilities.
Was too busy thinking Super Bowl to notice on Friday that we added another 16 stocks to the pilot.
A plain-English explanation of the overall thrust of Reg. NMS and what each individual piece means? Call in the punt team.
Today we've added 16 stocks to the Phase I pilot, bringing the number of new additions this week to 39, and the total roster of pilot stocks to 80.
There are a number of Hybrid Market features that might be of particular interest to day traders (which is not to say that other traders won’t find them attractive too).
