• Jun
  • 20
  • 2006
  • 9:35 AM

Will NMS delay impact Hybrid?

By: Ray Pellecchia
File Under: NYSE

Faithful correspondent Tony Dey writes:

Ray, With the delay of NMS will the Hybrid be affected. Thanks.

by Tony dey on June 19, 2006 10:18 PM

Tony -- The change in the Reg. NMS schedule does not impact the NYSE Hybrid Market rollout. Schedule remains as follows:

· Mid-summer 2006: Completion of Phase II, with an updated Display Book, the Specialst API, automated s-Quotes, and specialists' algorithms.

· End of September 2006: Phase III, including removal of restrictions on NYSE Direct+, introduction of sweeps, implementation of the broker discretionary order and other features.

· Year end 2006: Phase IV, including Reg. NMS compliance features such as fast/slow and locked/crossed market rules.

Thanks for your question, Tony.

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