• Jan
  • 24
  • 2007
  • 2:02 PM

Hybrid Market to Begin Phase IV Tomorrow

By: Margarida Correia
File Under: NYSE

We did it. All NYSE-listed securities---with the exception of 43 ten-share unit issues---have been activated into Phase III of the Hybrid Market. Now we move on to Phase IV, which starts tomorrow.

In Phase IV, the NYSE will introduce Immediate or Cancel (IOC) and Intermarket Sweep Orders (ISO) that will not route, giving customers more order execution control and choice. The news is announced in today's press release.

If you'd like to gauge how well the Hybrid Market is doing, the press release provides some helpful statistics on market quality. So you might want to check it out.

Hope you find this post helpful. It's my first. I'm Margarida, one of Ray's Hybrid Building Colleagues, and I'll be posting from time to time while he's away on business in Paris this week. Thanks for tuning in.

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Comments

"The introduction of Liquidity Replenishment Points (LRPs) has ensured that volatility increased only slightly with the introduction of auto executions and sweeps without unduly slowing the market."

I think that "only slighlty" should be replaced by "to eye-popping levels."

by John on January 24, 2007 4:31 PM

Welcome Margarita, thanks for the update.

by tony dey on January 24, 2007 7:24 PM

Volatitlity has increased substantially. Thanks for ruining a terrific market to trade, and replacing it with absolute garbage.

by jack on January 26, 2007 4:24 PM

The LRP's need to be better managed to work properly. There is no direction now just random prints.

by tony dey on January 26, 2007 7:10 PM

"The introduction of Liquidity Replenishment Points (LRPs) has ensured that volatility increased only slightly with the introduction of auto executions and sweeps without unduly slowing the market."

What a rediculous statement.

by jt on January 29, 2007 8:15 AM

Honestly, who does NYX they are kidding? Trading is MUCH more volatile, HANDS DOWN. NYSE took it's roots of a fair and balanced market and sold it's soul to save a buck.

by DRock on February 5, 2007 5:17 PM

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