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Nov
30
2006

5:05 AM

NYSE Group to eliminate member-firm fee cap as well as specialist commissions

By: Ray Pellecchia: File Under: NYSE

"These changes continue our progress towards improving the value proposition for our customers by simplifying and reducing the all-in cost of trading of NYSE listed securities through the elimination of the specialist commission," says CFO Nelson Chai. "As a result of this filing, specialist firms, which will continue to play an important role at the NYSE, will experience lower fixed costs and participate in a revenue sharing program that will reward them for providing liquidity to our market."

Nov
29
2006

2:49 PM

Yes, Virginia, there is a Hybrid Market

By: Ray Pellecchia: File Under: NYSE

A reader asks about Christmas being "delayed pending the approval of the SEC." Fear not. We will not leave a lump of coal in your stocking.

Nov
29
2006

2:25 PM

On Friday, ALU to replace LU

By: Ray Pellecchia: File Under: NYSE

The business combination of Alcatel and Lucent Technologies will cause a change in the list of Phase III Hybrid Market securities.

Nov
29
2006

12:56 PM

Six issues to join Phase III on Dec. 1

By: Ray Pellecchia: File Under: NYSE

Plus, on this date in market history, news of a key part of the trading floor's familiar look.

Nov
28
2006

1:50 PM

Seven issues to Hybridify on Nov. 30

By: Ray Pellecchia: File Under: NYSE

And a tip of the HybridTalk hat that day to Dick Clark. Or Billy Idol or Paul Stookey, take your pick. Now there's three names that don't often get mentioned in the same breath.

Nov
28
2006

8:35 AM

Q&A: Phases I and II

By: Ray Pellecchia: File Under: NYSE, NYSE

Plus, a trading halt that lasted 4 1/2 months.

Nov
27
2006

3:58 PM

Another 7 issues Hybridizing on Nov. 29

By: Ray Pellecchia: File Under: NYSE

Plus, a Young Rascal and a drummer named Ringo. No, not that one -- another one.

Nov
24
2006

12:00 PM

Q&A: ISO orders

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks about special instructions for Intermarket Sweep Orders.

Nov
22
2006

2:25 PM

Two issues to hybridify on Nov. 28

By: Ray Pellecchia: File Under: NYSE

The rollout resumes next Tuesday, Nov. 28 with Caterpillar Inc. (CAT) and Omnicom Group Inc. (OMC).

Nov
22
2006

9:56 AM

A holiday on new Hybrid Market issues

By: Ray Pellecchia: File Under: NYSE

Plus, a little philosophy from Keef, apropos of Thanksgiving.

Nov
22
2006

8:56 AM

Q&A: When will Red Hat go Hybrid?

By: Ray Pellecchia: File Under: NYSE

A reader asks whether Red Hat will be activated in the NYSE Hybrid Market when the stock transfers on Dec. 12 to NYSE from Nasdaq.

Nov
21
2006

6:50 AM

Q&A: IOCs, before and after Hybrid

By: Ray Pellecchia: File Under: NYSE, NYSE

Trainblogging (quietly at first, now a little louder) from the 5:52, next to a snorer.

Nov
20
2006

2:10 PM

Adding eight issues on Nov. 22

By: Ray Pellecchia: File Under: NYSE

Plus, perspectives from la borse blogue on becoming un bloguer. (Apologies if I've messed up any of that. Globalization brings with it the opportunity to make an idiot of yourself in multiple languages.)

Nov
20
2006

11:05 AM

Q&A: Screen displays, and PPY rules

By: Ray Pellecchia: File Under: NYSE, NYSE

Our favorite doctoral student is still working on that Hybrid Market dissertation.

Nov
20
2006

8:38 AM

Q&A: Restrictions on auto-execution

By: Ray Pellecchia: File Under: NYSE

A reader asks about short orders in the Hybrid Market, and related questions.

Nov
20
2006

8:33 AM

News clips: Red Hat to NYSE; bond expansion; and views on trading floor

By: Ray Pellecchia: File Under: NYSE

Thain: "We'll adjust the space of the floor to the demand. Will the floor shrink? Yes, probably. But I continue to believe there will be a big, active floor because the floor adds value to how stocks trade."

Nov
17
2006

4:07 PM

Footfalls of giants, leaving the building

By: Ray Pellecchia: File Under: NYSE

Fifteen people, 561 years, five and a half centuries, 295 million minutes -- any way you add it up, a great contribution.

Nov
17
2006

3:56 PM

Six more issues on Nov. 21

By: Ray Pellecchia: File Under: NYSE

Plus, a contribution to rock from the white-haired Wizard of Menlo Park.

Nov
16
2006

3:36 PM

Two more issues on Nov. 20

By: Ray Pellecchia: File Under: NYSE

And what happened on that date in rock history? Hint: On the really big shoe, bom-ba-bom-bom, ba-bom-bom.

Nov
15
2006

5:48 PM

What's Italian for 'record high'?

By: Ray Pellecchia: File Under: NYSE

"Il blog della Borsa" notes another record for the NYSE Composite Index.

Nov
15
2006

2:31 PM

Another 12 issues to close out week

By: Ray Pellecchia: File Under: NYSE

Plus Marla Gibbs, Jackee Harry and MacGyver.

Nov
15
2006

8:45 AM

Fixed Income Partners

By: John Holman: File Under: Bonds

Looks like we are getting there so we are partnering with vendors to provide instant access. Now you can connect your own front-end system via FIX or download an application from Townsend or Kestrel. Press release below. NYSE Group to Increase Investor Access to New NYSE BondsSM Trading Platform -Alliance with Kestrel and Townsend Add Reach and Functionality to the...

Nov
15
2006

8:28 AM

Q&A: Timing of Hybrid rollout

By: Ray Pellecchia: File Under: NYSE, NYSE

Plus, on this date 139 years ago, the start of one of many information revolutions at NYSE.

Nov
14
2006

5:20 PM

Record high for NYSE Composite Index; 'Boom Times'; and a blog mention

By: Ray Pellecchia: File Under: NYSE

In the news, things Hybrid and non-Hybrid.

Nov
14
2006

12:24 PM

Another 9 issues on Thursday

By: Ray Pellecchia: File Under: NYSE

Also, this is a day to make yourself useful. Read on and I'll explain.

Nov
14
2006

9:00 AM

Q&A: Advantage, no one

By: Ray Pellecchia: File Under: NYSE

A reader asks whether the specialist's algorithm has an advantage during an LRP period.

Nov
13
2006

1:39 PM

Adding 11 issues on Wednesday

By: Ray Pellecchia: File Under: NYSE

Plus, on this date in 1878, the trading floor gets on the phone.

Nov
10
2006

12:55 PM

On Tuesday, another sweet li'l 16 issues

By: Ray Pellecchia: File Under: NYSE

Couldn't resist a little Chuck Berry reference on this sunny Friday afternoon.

Nov
09
2006

3:21 PM

HybridTalk news clips: Thain on Hybrid's impact on share of trading

By: Ray Pellecchia: File Under: NYSE

The chief says the Hybrid Market is helping to stem to reverse market-share losses.

Nov
09
2006

1:12 PM

Nine new issues for Monday, Nov. 13

By: Ray Pellecchia: File Under: NYSE

The rollout continues next Monday. Plus, a behind-the-scenes look at the discussion of my future employment.

Nov
08
2006

2:17 PM

Adding five issues this Friday

By: Ray Pellecchia: File Under: NYSE

The new total of activated Hybrid Market issues will be 170, which is a sphenic number. Sphenic? Read on.

Nov
08
2006

10:22 AM

Q&A: About the 'L' in LRPs

By: Ray Pellecchia: File Under: NYSE

A trader asks about a large trade printing at a price different from a smaller trade the same second.

Nov
08
2006

9:11 AM

Q&A: Pace of activating issues

By: Ray Pellecchia: File Under: NYSE

A reader asks, "Why are issues being moved over so slowly?"

Nov
08
2006

8:18 AM

Q&A: More on specialist algorithms

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks whether specialists' algorithms are one-size-fits-all, or individualized for specific issues. Plus, questions about how we and the SEC are evaluating the Hybrid Market.

Nov
07
2006

3:33 PM

Six more issues this Thursday

By: Ray Pellecchia: File Under: NYSE

And on that date in the history of financial markets, an expensive lesson.

Nov
07
2006

9:15 AM

Thain: Hybrid 'working really well'

By: Ray Pellecchia: File Under: NYSE

Bob Pisani asked him what he thought was driving our stock price, and Hybrid's success to date was the first thing John mentioned.

Nov
07
2006

8:36 AM

Q&A: When will FFH go Hybrid?

By: Ray Pellecchia: File Under: NYSE

We generally announce additions to the active list two days in advance, so watch this space.

Nov
06
2006

1:43 PM

Another four issues on Nov. 8

By: Ray Pellecchia: File Under: NYSE

Four additional names will join the Hybrid Market Phase III implementation this Wednesday.

Nov
06
2006

11:15 AM

Q&A: IOC vs. ISO

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks about the difference between an IOC qualifier and an ISO qualifier.

Nov
06
2006

10:29 AM

Q&A: About negative obligation, price improvement and transparency

By: Ray Pellecchia: File Under: NYSE

A reader raises questions about a trading experience.

Nov
03
2006

4:43 PM

Another 25 issues to Hybridify

By: Ray Pellecchia: File Under: NYSE

Another 25 issues will throw their hat in the ring on Election Day.

Nov
03
2006

7:05 AM

Q&A: Certainty of order execution; plus volume in Hybrid Market issues

By: Ray Pellecchia: File Under: NYSE, NYSE

Readers ask about our initial report card on Hybrid Market performance and order-execution quality.

Nov
03
2006

6:21 AM

Q&A: How often are we 'slow' for LRPs?

By: Ray Pellecchia: File Under: NYSE, NYSE

An academic asks how often our Hybrid Market issues have gone into "slow" mode because of LRPs. Turns out that out of the 1.2 percent of the time, most of that has been due to other market conditions, not LRPs.

Nov
02
2006

7:55 AM

Hybrid Market performance and execution quality very positive

By: Ray Pellecchia: File Under: NYSE

“The Hybrid Market is working extremely well, our overall share of trading volume in these Phase III stocks is up, and the Hybrid Market is delivering as expected with respect to speed, price and liquidity..." announces our CFO, Nelson Chai.

Nov
01
2006

12:32 PM

Another 5 issues this Friday

By: Ray Pellecchia: File Under: NYSE

The rollout resumes, which will bring the total to 131 issues active in Phase III of the Hybrid Market by week's end.

Nov
01
2006

10:51 AM

HybridTalk newswire, Nov. 1

By: Ray Pellecchia: File Under: NYSE

Press reports on the consolidation of the NYSE trading floor announced yesterday.

Nov
01
2006

5:57 AM

Phase III pilot extended

By: Ray Pellecchia: File Under: NYSE

This means we will continue rolling out additional issues into our Phase III implementation, until we get further approval. As we've been doing, will keep you apprised.

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