As I always say, may we never need to consult these procedures, but here they are, just in case.
Hey, a trivia question: How many shareholders were there in the U.S. in 1952?
a) 650,000
b) 1 million
c) 6.5 million
d) 16 million
Read on for the circuit-breakers and the trivia answer.
"Without an absolute industry protocol, we're advocating doing what exchanges have been doing for a very long time: reporting single-counted matched-only volume," said Dave Johnsen, vice president for Sigma X business development at Goldman. "If everyone else puts themselves on the same metric, the dark-pool numbers will add up to 100 percent of dark-pool volume."
After I've been nagging you for a week, today it's finally here: the annual reconstitution of the Russell indices, when hundreds of NYSE- and NYSE Amex-listed issues go in and out of the indices.
That also means today is the final installment in our little Great Russells in World History series. I've saved my personal favorite for last. Today's Great Russell is.....
"The paradox arises in connection with the set of all sets that are not members of themselves. Such a set, if it exists, will be a member of itself if and only if it is not a member of itself."
And you didn't think you were going to learn anything today!
From Marisa Ricciardi: Southwest Airlines uses its birthday to highlight its new presence at LaGuardia Airport. Check out the video.
Expected to be operational in 2010, the new data centers will provide much greater network scale and efficiency, with plans to utilize Juniper’s Data Center Infrastructure Solutions and advanced data center fabric technology to support an unprecedented internal latency of 50 microseconds roundtrip.
Stephen S. Pawlowski, Intel Senior Fellow, Digital Enterprise Group Chief Technology Officer, Digital Enterprise Group and General Manager, Architecture and Planning said, “NYSE Technologies' Market Data Platform V5 with Data Fabric takes advantage of Intel Xeon processor 5500 series-based servers with Intel Quick Path Interconnect. The scalability and low latency of Market Data Platform V5 combined with the performance of the Intel Xeon processor further increases its capabilities as a market data platform. Together, Market Data Platform V5 dramatically reduces the server footprint in the data center to create a cost effective solution on industry standard hardware."
Plus: the countdown to Russell Friday continues, with another installment of Great Russells in World History.
From Todd Wilemon: As of July 1, 2009, NYSE Options will no longer charge a facilitation fee to firms who facilitate their customer order flow. We are eliminating the fee for firm facilitation of customer orders. It’s going to zero. Yes, the price is FREE on both exchanges!
Futures industry authority John Lothian recently launched his Newsletter Metals Edition. NYSE Liffe U.S. is proud to be the exclusive sponsor. The JLN Metals Edition is a free, daily online newsletter providing traders, investors and other market participants with aggregated news and commentary about the metals markets. The newsletter focuses on activities in the futures markets, the physical trade and the companies that participate in either or both. The JLN Metals Edition also monitors news reporting on the metals markets, commenting on quality and scope of coverage.
Plus, on a completely separate note: the Russell reconstitution countdown continues, with great Russells in basketball history.
"SEC spotlight puts 'dark pool' venues on defensive" and "Rise of the (Market) Machines." Plus: today's installment of Great Russells in World History.
As an additional public service to help you keep this big, annual market event in mind for the next week, starting today I'm giving you the first in a series of Great Russells in World History. Collect 'em all.
Today's inaugural Great Russell: .... read on.
Beginning on Monday, 22 June, NYSE will begin including trading-floor brokers' d-Quotes and pegging e-Quotes eligible to trade in the close in the NYSE closing order-imbalance information that is disseminated beginning at 3:55 p.m.
The goal is to increase transparency and provide opportunities for contra-side interest to develop, thereby decreasing volatility and ultimately contributing to the maintenance of a fair and orderly market.
From Marisa Ricciardi: Who doesn't love a good barbecue? Even one that takes place on Broad Street.
In case you missed it: tomorrow is the quarterly expiration of stock and index options and futures. The second quarter is drawing to a close.
Where does the time go?
While you're pondering that, here's an Information Memorandum (is there any other kind of memo? -- I mean, can there be a memorandum without information, aren't we being a little redundant?) about procedures you might want to freshen up on in connection with the expiration.
From Marisa Ricciardi: The event kicked off with the ringing of the opening bell by NHRA President, Tom Compton, who was also joined by NHRA drivers and executives from more than 20 NYSE-listed companies who participated or sponsored with the NHRA.
"Getting our regulatory house in order requires constructing a new foundation, rather than taping broken windows and patching cracked walls." Duncan writes.
"If you do it fast and electronically, it's OK, and, if humans do it on the NYSE floor, they get prosecuted," Brown says.
From Marisa Ricciardi: The contest aims to benefit CityParks Golf, a free instructional program which reaches 3,500 urban youths annually.
From Todd Wilemon: NYSE Arca has filed a proposal with the SEC to expand the penny program to the top 300 most-actively traded names. This would cover about 75 percent of the daily option trading volume. We have also proposed extending the pilot through 2010. We feel this is the right way forward, giving participants the true bid/ask spread while providing the marketplace with complete transparency.
But she's one fine Middleware Agnostic Messaging API.
OK, it's Monday. Work with me here.
Plus: How can we increase financial literacy in minority communities?
"The U.S. capital market is still the most mature in the world, has the deepest pool of liquidity and has the broadest shareholder base," said Scott Cutler, the head of listings at New York Stock Exchange parent NYSE Euronext.
That's Securities Industry News quoting Anthony Conroy, head trader at BNY ConvergEx, the firm that ranks third in terms of NYSE execution volume, talking about recent changes at NYSE.
