• Mar
  • 14
  • 2008
  • 10:50 AM

MatchPoint: Building Liquidity

By: Jim Ross
File Under: MatchPoint

NYSE MatchPoint is drawing near to the day when we’ll drop the flag for the first matching session — the after-hours match at 4:45 pm Eastern.

In January, we received SEC approval and rolled our platform into production. Since that time, we’ve been working feverishly to authorize and connect the backlog of NYSE members into MatchPoint. Every NYSE member firm and every major OMS/EMS vendor are engaged with MatchPoint in some form or fashion.

Building liquidity in a dark pool requires patience, focus, persistence, skill and a critical mass of participants. As NYSE MatchPoint gets all of its NYSE members (and their customers) connected, expect to begin seeing volume. Executions will print with an "N" and an "X" modifier to identify them as MatchPoint trades. Transparency where it is needed (post-trade) and anonymity where it is not (pre-trade).

If you are concerned about information leakage, execution control, block liquidity, and finding a truly natural contraside, NYSE MatchPoint's exchange neutral, low cost and centralized trading environment is your perfect solution.

Comments

Jim and Ray

Have matchpoint started on intraday basis yet? Do you have some info on the frequency and time of the day?

Recently, I observed in the Times of Sales of NYSE stocks with huge block prints (in Esignal platform the indication is MktCtrOpn (Market Center Open). Is this from Matchpoint or Darkpool. I would appreciate if you can shed some lights on these issues of block prints?

Thank you,
Ron

by Ron on April 17, 2008 11:18 AM

Ron -- We have not yet begun intraday crosses on MatchPoint. Without looking at specific prints, I don't know what accounts for the blocks you're seeing.

Will come back to you if I get any insights, and feel free to pass along additional information on what you're seeing. Thanks for writing!

by Ray Pellecchia on April 18, 2008 11:34 AM

Comment on this entry

Forward this entry to a friend