CMS still standard of choice here

By: Ray Pellecchia

File Under: NYSE

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A reader writes in response to this post:

Does anyone really still use CMS? I thought that most of messaging routing is done in FIX.
-- George Kledaras

Mr. Kledaras -- Even though the NYSE was the first equities market to adopt FIX connectivity -- going back almost three years now -- almost 85 percent of the traffic coming to the NYSE is still in CMS (or as the standard is technically referred to, FCS).

We support enabling our customers to have their choice in means of accessing our market, but customers apparently prefer the stability of the CMS standard.

BTW, while we're on the topic, a couple of readers of the same post called to ask, "What is CMS?"

It stands for Common Message Switch. According to our glossary:

CMS is a store-and-forward message-switching device that connects member firms to Exchange systems. CMS forwards orders from member firms to the SuperDot® system, which then processes them.

But of course, ours is not the only CMS out there.

· CMS is the NYSE trading symbol for CMS Energy Corp.

· The U.S. government runs the Centers for Medicare and Medicaid Services, which for some reason becomes CMS, not CMMS.

· CMS is commonly used to stand for content management system. And a quick scan of the Web shows, oh, about a gazillion providers of such systems.

· The College Music Society is a consortium of musicians and scholars dedicated to promoting music teaching and learning, musical creativity and expression, research and dialogue, and diversity and interdisciplinary interaction. And where were they when I was trying to learn how to paradiddle?