NYSE to offer incentive for floor brokers to add liquidity

By: Ray Pellecchia

File Under: NYSE

Floor brokers currently cannot post orders on other markets while at the point of sale at NYSE, so unlike other Exchange users, they can't capture incentives that other markets offer to liquidity providers. NYSE believes this disparity places floor brokers at a competitive disadvantage to other Exchange customers and believes the proposed credit will mitigate the effects of that disadvantage while also attracting additional liquidity to NYSE.

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A Prime Source for valuing illiquid securities; plus, exploring XBRL

By: Ray Pellecchia

File Under: Miscellaneous

"Roland Bellegarde, head of European cash markets at NYSE Euronext, said: 'The hub provides a combination of valuation services that gives users the possibility to find in one independent, neutral place all the information they need to facilitate their valuation process.'"

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XBRL ASAP

By: Ray Pellecchia

File Under: Miscellaneous

"[United Technologies Corp.'s John] Stantial likes XBRL because 'data that is trapped and lacking in context, such as PDF or HTML files, can now be electronically accessed and manipulated in seconds.' He says many companies are uneducated about XBRL or have not done cost-benefit analyses. The open-standard software can cost as little as $1,000, and once users get past the learning curve, tagging and filing an 8-K earnings release requires about four person-hours, Stantial wrote in a UTC case study."

So why aren't more companies -- including those in supposed leadership positions like Nasdaq -- using XBRL?

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Upcoming changes in the NYSE market model: here's the latest

By: Ray Pellecchia

File Under: NYSE

Duncan in this week's earnings call, on our discussions with the SEC: "I think we're down to where we really just have two or three rules left..."

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