- Dec
- 31
- 2008
- 5:16 PM
Linkstocking: New Circuit-Breaker Levels; CDS Clearing; Trading Floor, Past or Future; Best Blogs of 2008; Seeking Alpha
- By: Ray Pellecchia
- File Under: NYSE, NYSE Euronext
Plus, remembering an un-memorable New Year's Eve: Y2K.
« November 2008 | December 2008 | January 2009 »
- Dec
- 29
- 2008
- 6:25 AM
The Madoff Scandal and Payment for Order Flow
- By: Ray Pellecchia
- File Under: NYSE
News articles about the Bernard Madoff scandal are beginning to focus on Madoff's earlier days in the business, when he and his firm were best known as the leading practitioners of "payment for order flow," and as driving forces behind the growth of the "third market" as well as Nasdaq. In this post I'll parse two articles on the topic that have appeared in the last few days, as well as a relevant blog post.
- Dec
- 26
- 2008
- 11:37 AM
'The Big Options Board'
- By: Ray Pellecchia
- File Under: Options
"The NYSE and Amex will immediately move from the fourth- and fifth-largest options volume exchanges into the top three, and closer to the Chicago Board Options Exchange and International Securities Exchange than they have ever been."
Plus: More about "Nellie."
- Dec
- 24
- 2008
- 11:16 AM
Linkstocking: CDSs, IPOs, CME and 'Wait 'Til the Sun Shines, Nellie'
- By: Ray Pellecchia
- File Under: Liffe derivatives, Miscellaneous
Approving new platforms to process CDSs is part of an effort to reduce risk in a market blamed for exacerbating the financial crisis, the Journal says.
- Dec
- 23
- 2008
- 8:21 AM
Quote of the Day
- By: Ray Pellecchia
- File Under: Miscellaneous
'We need a total rethinking of who the heroes are..."
- Dec
- 22
- 2008
- 1:58 PM
Linkstock: Take Tomorrow Afternoon Off!; Unshackling Short Sellers; 2008 Lookback; Corporate Blogs and Credibility
- By: Ray Pellecchia
- File Under: NYSE
"Repeal [of the "uptick rule"] causes market liquidity to worsen slightly, and short sellers on average become less contrarian...We find no evidence that repeal of the uptick rule destabilized prices or otherwise contributed to the bout of volatility experienced by U.S. stocks in late July and early August 2007."
- Dec
- 22
- 2008
- 8:02 AM
First to Market: 'NYSE Euronext's Liffe Launches CDS Unit'
- By: Ray Pellecchia
- File Under: Liffe derivatives
"...Liffe on Monday became the first exchange to offer clearing of credit default swaps index trading in Europe as regulators push to improve stability in the CDS market."
- Dec
- 19
- 2008
- 3:08 PM
MOC/LOC Changes Postponed; Arca Adds Depth Routing; Short-Sale Woes; SLP Program Starts; NYSE Fights Back; Nasdaq Extends Listing Rule Suspension
- By: Ray Pellecchia
- File Under: NYSE, NYSE Arca
And Jay Leno names the Ponzi scheme.
- Dec
- 19
- 2008
- 8:33 AM
Quarterly Expiration Today
- By: Ray Pellecchia
- File Under: NYSE, NYSE Amex, NYSE Arca
And which would you prefer: Pottersville or Bedford Falls?
- Dec
- 15
- 2008
- 9:03 AM
'Fewer Block Shares Traded in Networks During Big Downturn;' 'High-Touch Is Making a Comeback'
- By: Ray Pellecchia
- File Under: Miscellaneous
Wow -- human interaction, dialogue and a bit of color can help you get a better trade? Who knew?
- Dec
- 15
- 2008
- 8:44 AM
'NYSE Euronext Begins Migration to Universal Trading Platform'
- By: Ray Pellecchia
- File Under: Universal Trading Platform
"Based on existing systems and incorporating new technology, the platform will see European cash customers experience reduced latency from 1.5 milliseconds a roundtrip to 150-400 microseconds, with capacity trebling, from 30,000 orders a second to 100,000 orders a second."
- Dec
- 15
- 2008
- 6:06 AM
NYSE Enhances MOC/LOC Handling for All Customers
- By: Ray Pellecchia
- File Under: NYSE
The NYSE expects that this change will help further strengthen the NYSE’s current leadership in providing customers with the largest pool of liquidity and the most accurate price discovery at the close, one of the most critical times of the trading day.
- Dec
- 12
- 2008
- 10:15 AM
Faster Opening Times at NYSE Alternext US
- By: Ray Pellecchia
- File Under: NYSE Amex
On Wednesday, more than half of the NYSE Alternext US-listed stocks opened within the first 10 seconds following 09:30:00. My understanding is that we expect further improvement in that number in the coming weeks.
- Dec
- 11
- 2008
- 9:32 AM
Linkstock: Threshold Lists Shrink, Volatility Doesn't; the 3PM Opening Bell; Top Financial Collapses of 2008
- By: Ray Pellecchia
- File Under: NYSE
"Since Oct. 1, there have been 14 days in which the Dow made more than half of its gains or losses within the last hour of trading."
- Dec
- 10
- 2008
- 2:28 PM
Linkstock: BIDS, Liffe, More on Shorting, and Why We Need Real Journalists
- By: Ray Pellecchia
- File Under: Liffe derivatives, Miscellaneous
...and a mention of the Queen of Soul brightening the season, literally.
- Dec
- 09
- 2008
- 12:24 PM
An Uptick In Talking About The Uptick Rule
- By: Ray Pellecchia
- File Under: NYSE
I think the "uptick rule" is talked about more now that it's gone than it ever was when it existed. Looks like another round of debate is starting up.
- Dec
- 09
- 2008
- 9:57 AM
Ten Things I've Learned In Three Years Of Corporate Blogging
- By: Ray Pellecchia
- File Under: Miscellaneous
Lesson No. 1: Go ahead, try it; it probably won't kill you.
- Dec
- 08
- 2008
- 10:00 AM
Linkstock: November Volume, ETF Screener, NYX To Present At Financial-Services Conference
- By: Ray Pellecchia
- File Under: Liffe derivatives, NYSE, NYSE Amex, NYSE Arca, NYSE Euronext, Options
NYSE Euronext registered increased trading activity on U.S. cash equities and options exchanges in November and strong year-to-date volume gains across all its global multi-asset platforms.
Plus: One very dark day in rock-music history.
- Dec
- 05
- 2008
- 9:50 AM
WSJ: 'SEC Approves, Again, NYSE's Fees for Data'
- By: Ray Pellecchia
- File Under: NYSE, NYSE Arca
This is an important decision that enables the exchanges to bring data products to market in a streamlined and competitive manner. The SEC worked long and hard to get to the right answer. The winners will be data-consuming customers and the public in addition to the exchanges themselves.
- Dec
- 05
- 2008
- 8:46 AM
Linkstock: NYSE Alternext US
- By: Ray Pellecchia
- File Under: NYSE Amex
A market on the move. Literally.
- Dec
- 01
- 2008
- 2:54 PM
A Pledge On World AIDS Day To Fight Discrimination In Our Workplace
- By: Ray Pellecchia
- File Under: Miscellaneous
Can companies put words such as these into action to break down barriers and offer opportunity? They can, and they must. The financial-services and technology industries, which historically have not been the most open and inclusive, know that as well as or better than most.
- Dec
- 01
- 2008
- 10:25 AM
Welcome, NYSE Alternext US
- By: Ray Pellecchia
- File Under: NYSE Amex
With a new address, new benefits for the trading community.
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