Q&A: Hit or match

By: Ray Pellecchia: File Under: NYSE, NYSE

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A reader writes in response to Q&A: Phase III impact:

A question on sweeping: "If an away price is better than NYSE quote, the NYSE will honor it before trading at the NYSE."

Could you elaborate the term HONORING? NYSE will automatically hit those orders or match them ?

Thanks

Ron

Ron -- Specialists and brokers will be able to electronically match better "away" markets through their new automated tools; they are not required to do so. If they do not match the better price, NYSE will automatically route to better-priced top of book in the other market.

Thanks for writing. I think I might have mentioned, the questions into this space seem to be growing in number as well as sophistication. As I look for the answers with my HBCs (Hybrid-Building Colleagues), I find I'm actually LEARNING something (no frequent occurence for this math-challenged old PR guy).

And to boot, having good questions to answer from customers warms the heart of the corporate blogger.

Speaking of heart, a mischievous HBC spotted my mentioning the anniversary of Elvis's death, and forwarded this recipe for a sandwich that surely did no good for the King's ticker. Oh ... my ... gosh. Wise men say, only fools rush in ... to a Fool's Gold sandwich.

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Hi Ray,

Got to read a little of this stuff while doing maintenance. Gotta thank you for the Elvis recipe. No wonder the guy's dead. My son wants to try it but I told him I'd have to leave the house first. I don't know much 'trader lingo' but I do like the rock trivia and stuff. Thanks for the suppressed appetite. Mike

by Mike Rittenhouse on August 25, 2006 1:18 AM

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Q&A: Hit or match

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