- Jul
- 31
- 2007
- 9:51 AM
Luxury ETF; hola, FINRA; and debunking some mythinformation
- By: Ray Pellecchia
- File Under: ETFs / Indexes, NYSE
Plus, on this date in NYSE history: NYSE halts trading. For 4 1/2 months.
Plus, on this date in NYSE history: NYSE halts trading. For 4 1/2 months.
This is great news for all options traders, who can take advantage of the tighter spreads.
Following up last Friday's post about record trading volume, here are a couple of additional news articles on the same subject, plus a question on another topic.
I'm not looking to pat ourselves on the back while so many are sore in the wallet today. But as you'll recall from last February, the only thing worse than a selloff is a selloff with a glitch attached to it. Giving you continuous, reliable access to the market (no matter how bearish or bullish) is an essential component of making the wheel go 'round.
I'm a little distressed but not surprised by the anti-Wall Street sentiment running through most of these comments, and the ability of people to wish ill on others they don't even know. It's as if people think Gordon Gekko works on our trading floor, and here's their chance to get back at him.
Links for 25 July 2007: SEC approves "upstairs" capabilities for NYSE floor brokers; new exceptions to NMS rules; NYSE MatchPoint to debut; Liffe plan puts traders at odds; Tony Soprano's management lessons. Plus, on this day in rock history: Dylan shocks 'em at Newport.
One bunch of comments begets another, and I welcome that. It feels like limitless undying love, which shines around me like a million suns. It calls me on and on, across the universe.
Plus, it keeps me employed.
The following came in response to yesterday's post, "Restless wind inside a letter box." After this one, I'll knock off the "Across the Universe" references, I promise.
For the rest of today, at least.
Apologies to Lennon, but thoughts keep meandering like a restless wind into my electronic letter box, even though I've been slacking off posting lately. Thanks for keeping the mail coming. Here, belatedly, is some more feedback on the the erroneous-trade problem that happened late last month.
The story is not unique to this trading floor, this company or this industry. The story is not man vs. machine, it's man AND machine -- how can we use technology to transform our business for the better, to create greater value for customers? What is the right combination of the two, the right balance?
Well, she wrote me a letter
Said she couldn't live without me no mo'
Listen, mister can't you see I got to get back
To my blog once more
Anyway-ay...
Apologies to the Boxtops. And in truth, neither my baby nor anyone else wrote me that they couldn't live without me no more. My baby does occasionally e-mail me that I forgot to close the garage door or failed to clean out the downstairs closet, or some other similar love note.
Anyway-ay, after a week-plus off, I'm catching up on some interesting comments that have come in about the future of the trading floor, the erroneous-orders episode and other stuff.