- Jan
- 07
- 2008
- 8:31 AM
MatchPoint start expected 22 Jan.
- By: Ray Pellecchia
- File Under: MatchPoint
From the news release issued this morning:
The first NYSE MatchPoint matching session will be an after hours match at 4:45 p.m. that uses the official closing price of the primary market. Soon, matching sessions will be established during regular hours of the Exchange. The first will take place at 9:45 a.m., followed by matching sessions at 10 a.m., 11 a.m., 12 noon, 1 p.m., 2 p.m., and 3 p.m. The price of the intraday match will be the mid-point of the NBBO that is randomly selected during a one-minute pricing period. An investor may enter one portfolio of buy and sell/short orders, a single block order or multiple portfolios of buy and sell /short orders.
Investors that rely on index-based or model-driven trading and investment strategies will find NYSE MatchPoint’s portfolio-based capabilities to be a very effective trading tool. In addition, NYSE MatchPoint’s non-displayed, point-in-time approach aggregates individual block orders and increases the depth of the liquidity pool and enhances the opportunity of a natural match.
When head MatchPointer Jim Ross has a minute, I'll ask him to get back on the blog and give us an update.
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