- Sep
- 17
- 2007
- 8:47 AM
Blogging about NYSE Galacticnext markets, 5 billion years from now
- By: Ray Pellecchia
- File Under: Miscellaneous
Actual news item:
Distant orb may hint at fate of Earth
There is new hope that Earth, if not the life on it, might survive an apocalypse five billion years from now.
That is when, scientists say, the Sun will run out of hydrogen fuel and swell temporarily more than 100 times in diameter into a so-called red giant, swallowing Mercury and Venus.
[Scientists] said …that a planet at Earth’s distance “can survive” a red giant…
-- International Herald Tribune, 14 September 2007
Inspired by that bit of news, may I offer a glimpse into the future of markets as it might be blogged by my successor, five billion years into the future. Please note, the links won’t be clickable until that time.
Exchanges
Blogging About NYSE Galacticnext Markets
Links for 17 September 5000002007
Posted by: Ray48NYXXL104.3
Trading Floors Will Die Soon, Experts Predict -- “Five billion years of falling commissions, increased automation and new competition are finally going to take their toll and spell the end of trading floors,” said Prof. Gordon2+2=5 in a speech at an industry conference last week. “Really, it’s going to happen. Very soon. I’m serious. Any day now, I swear. I truly, truly mean it this time. I know, I know, we’ve been saying this for a while now. Hey, it gets good press. We haven’t been right yet, not quite yet, but we’ve been very, very consistent. Hello? Anybody out there? Is this mic on?”
NYSE Galacticnext Debuts SynapseDOT System -- Leaping ahead of the competition to cut transaction latency beyond a scungillionth of a second, NYSE Galacticnext announced a new subscription-only system that will continuously scan a customer’s brain and initiate orders even before they are formed as complete thoughts. NYSE specialists and floor brokers said the new system would speed the trading process, reduce the number of intra-cranial keystrokes needed to process a transaction, and provide a way to give their lunch orders to clerks without having to speak.
Nasdaq Completes Merger – Ending a losing streak that began with being spurned by the London Stock Exchange more than 5 billion years ago, Nasdaq today completed its first intermarket merger, a combination with the Plutonian Sulfuric Gas Exchange. CEO Bob0000000-1 commented: “In the more than 2 million possible mergers we’ve pursued until today, we chose not to win. Our collective experience recently prompted us to consider that perhaps choosing to win might be a better way to go.” Mr. Greifeld added that sulfuric gas would diversify Nasdaq’s product line and provide new fuel for Nasdaq’s marketing efforts.
This Date in NYSE GalacticNext History: 17 September 4928675309 – BRK.A splits for the first time, reducing the cost to buy one share to three average-size solar systems.
Happy sunny Monday, folks. And by sunny, I really mean it. Red. Giant. Sun. I'll be working from our Neptune office the rest of the week. Stay cool!


Comments
Ray, any word on the progress of the implemented specialist incentives. Personally I haven't seen any changes to price improvement or liquidity.
by Ron on September 17, 2007 11:50 AM
Oh, snap! You took a swipe at the Nasdaq there!
Funny post, Ray.
-DT
by Dinosaur Trader on September 17, 2007 12:43 PM
Hi, used to trade for this company called Swifttrade in canada and they had NYOB and other ecns on one level2 screen, Now i am at another company and they don't do that, they said nyse dosn't allow that. Is that true?
by Mike on September 17, 2007 2:29 PM
Ron -- I don't think we'll see significant changes immediately. Some of the building blocks we need are in place; others are yet to come, and we're continuing to work on them.
At the same time, I *am* hearing that some specialist firms are *beginning* to send price-improvement algorithmic messages, and that many of these are getting executed. I'll keep you posted as I hear more.
Mike -- My MDDC (market-data-disseminating colleague tells me we do allow it; NYSE provides OpenBook to all those who want it on equal terms and conditions. Which firm are you using now? I could ask my MDDC to call them to clarify.
by Ray Pellecchia on September 17, 2007 4:55 PM
Ray,
Nicely done. I am glad to see that someone at the NYSE has a sense of humor.
by Art Perry on September 18, 2007 10:12 AM
Hi ray,
I'm surprised you didn't pick this article in your market summary. It does talk about specialists and the trading floor, so I thought you'd like it.
http://www.cnbc.com/id/20754055/site/14081545
by nicolas on September 18, 2007 1:19 PM
Art -- Thanks for the comment!
Nicolas -- Thanks for the link. I hadn't seen that particular piece, but was thinking of including another one on the same topic. Then I remembered that Duncan had said earlier this year that we were going to two rooms, though probably not this specifically. Better to err on the side of informing, even if some might have seen it earlier. So again, thanks for sending it.
by Ray Pellecchia on September 18, 2007 1:51 PM
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