NYSE Regulation news release: "Specialist Firms Cited for Violations of Order Handling Obligations, Firm Quotes,
Limit Order Displays, Short Sales and Intermarket Trading System Commitments"

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Jan
16
2007

4:12 PM

The end of the 'Saddam bear market'

By: Ray Pellecchia: File Under: NYSE

A look back at what happened in the market 16 years ago today.

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Jan
16
2007

9:05 AM

Q&A: How to alphabetize the list of Phase III Hybrid Market issues

By: Ray Pellecchia: File Under: NYSE

Excel tips on HybridTalk -- is this a full-service blog or what?

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Jan
12
2007

2:26 PM

Blogging Dr. King's memorial-to-be

By: Ray Pellecchia: File Under: NYSE

It's a small Street, and a small blogosphere.

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Jan
12
2007

12:10 PM

Adding 80 issues on Jan. 17

By: Ray Pellecchia: File Under: NYSE

Plus, I happened to discover an amazing site about an amazing discovery.

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Jan
12
2007

12:05 PM

NYSE proposes to give investors free access to real-time stock-price data

By: Ray Pellecchia: File Under: NYSE

"Today, the NYSE has moved the issue a great step forward with a proposal to the SEC which if approved, would allow you to see real-time, last-sale prices..." says Google's blog.

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Jan
12
2007

6:23 AM

Q&A: Following up on extending the implementation date for Reg. NMS

By: Ray Pellecchia: File Under: NYSE, NYSE

Plus, on this date 101 years ago, a then-milestone for the market.

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Jan
11
2007

7:12 PM

Q&A: Rollout status, 30-second rule

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks how many more issues are yet to be added to Phase III, and for some clarification of the "30-second rule" restricting the frequency of auto-ex orders.

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Jan
11
2007

6:51 PM

When a quote goes 'slow,' speed vs. price is for customer to decide

By: Ray Pellecchia: File Under: NYSE

In the event of a Liquidity Replenishment Point being triggered or another slow condition occurring, the choice of price vs. speed is the customer's to make.

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Jan
11
2007

2:10 PM

Hybrid to top 3,000 issues on Tuesday

By: Ray Pellecchia: File Under: NYSE

Plus, remembering two great Americans.

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Jan
10
2007

5:41 PM

Q&A: Concerned about volatility

By: Ray Pellecchia: File Under: NYSE, NYSE

A proprietary trader shares his experience and concerns.

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Jan
10
2007

4:34 PM

Q&A: Seeking reserve capability

By: Ray Pellecchia: File Under: NYSE, NYSE

NYSE eQuote's reserve feature (as well as e-Quote's discretionary and pegging features) is designed to enable brokers to replicate electronically the judgment and discretion they've used on the trading floor to get their clients the best price and avoid having the market move against them.

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Jan
10
2007

2:57 PM

Another 257 issues to join Hybrid Market on Friday, Jan. 12

By: Ray Pellecchia: File Under: NYSE

The 3,000-issue mark approaches.

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Jan
10
2007

8:18 AM

Q&A: Seeking price improvement

By: Ray Pellecchia: File Under: NYSE

A reader asks whether the lower level of price improvement is "a result of the specialists being conservative in their algorithms as they gain comfort with Hybrid, or should we expect these increased costs to continue?"

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Jan
10
2007

7:47 AM

Q&A: What if I increase my order size?

By: Ray Pellecchia: File Under: NYSE, NYSE

Any increase in order size automatically is treated as a cancel and replace. Otherwise, someone could gain a priority position and never reliquish it.

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Jan
09
2007

3:48 PM

Q&A: When will Reg. NMS ISOs begin?

By: Ray Pellecchia: File Under: NYSE, NYSE

Reg. NMS Intermarket Sweep Orders will start rolling out with Phase IV, targeted for later this month. Read on and stay tuned.

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Jan
09
2007

1:23 PM

Q&A: Do LRPs affect other markets?

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks whether other markets can still trade when a Liquidity Replenishment Point is reached on NYSE.

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Jan
09
2007

1:02 PM

Whole lotta additions on Thursday

By: Ray Pellecchia: File Under: NYSE

Another 109 issues will join Phase III of the NYSE Hybrid Market on Thursday, Jan. 11. That will bring the total number of active issues to 2,732.

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Jan
09
2007

10:50 AM

Q&A: Is there any speed advantage in using Direct+ vs. SuperDOT?

By: Ray Pellecchia: File Under: NYSE, NYSE

A reader asks whether using one system or another will result in a faster trade execution. Also worth mentioning: an article in the Jan. 8 Wall Street Letter discusses upcoming changes to reduce system latency.

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Jan
08
2007

8:57 PM

NYSE asks SEC for 1-month extension of Reg. NMS implementation date

By: Ray Pellecchia: File Under: NYSE

"The NYSE had anticipated that it would have been in a position to complete the Phase III rollout by early December 2006. Delays in the Phase III rollout schedule have pushed back completion until later in January 2007. Consequently, the rollout of Phase IV, which includes the Reg. NMS IOC [Immediate or Cancel] and Intermarket Sweep ('ISO') order types, is expected to be completed by the end of February 2007."

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Jan
08
2007

12:27 PM

Adding CXXXVI issues on Wednesday

By: Ray Pellecchia: File Under: NYSE

The total number of active Hybrid Market issues will cross the MMD mark for the first time.

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Jan
08
2007

8:46 AM

Revenge of the (Lincoln) nerd

By: Ray Pellecchia: File Under: NYSE

It wasn't the Great Emancipator who declared the "national day of fasting, humiliation and prayer." Much to your humble blogger's humiliation.

The HybridTalk mailbox suddenly runneth over with good questions, several of which take a bit of research. I'll respond to all this week. To those waiting for an answer, please bear with me, and thanks for your patience.

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