- Jul
- 31
- 2009
- 11:21 AM
New York Jets Score Big at NYSE
- By: mricciardi
- File Under: Events
A "good old rumor manipulation" is interrupted by system alerts, a phone tip, and fast and furious detective work and cooperation to halt the alleged scheme before the trades settled and ill-gotten profits could disappear.
From Marisa Ricciardi: Who left his pineapple under the sea to drop on the deck of the NYSE?
From Todd Wilemon: NYSE Arca Options is expanding the list of PNP orders that can trade on our exchange. Post No Preference (PNP) orders stay on NYSE Arca and do not route out to other exchanges. Since we will pay you to trade on NYSE Arca whenever you post liquidity, these orders ensure you stay here and do not route to other high-cost exchanges.
From Marisa Ricciardi: It was lights, camera, action from the moment the glamorous primetime TV correspondent and fill-in anchor of CBS’ “The Insider” and co-host of ABC’s “Dancing with the Stars” entered the historic Boardroom of the NYSE.
Larry Leibowitz, our group executive VP in charge of U.S. Markets and Global Technology, spoke with CNBC earlier today to clarify the issues and our position concerning "flash" orders, high-frequency trading and co-location of servers.
You might have read in Traders magazine about NYSE Euronext's plans to renovate the trading floor, replacing cramped broker booths with modern trading desks, new screens and workspaces, and a new network. Here's CNBC's report on the same subject.
The NYSE trading floor is a great place for a community of agents, and the idea is to make it the most attractive place to represent customers no matter what market you're working, no matter whether you're working an order electronically or physically or both. And I mean attractive in the sense of functionality, flexibility, aesthetics, access to liquidity, and costs.
Media coverage continues to grow on the issue of certain marketplaces holding up orders and giving certain members a look at those orders before they are executed.
From Marisa Ricciardi: On Monday, July 13, Louis Vuitton’s President and Chief Executive Officer Daniel Lalonde, along with Apollo 11's Buzz Aldrin and Apollo 13's Jim Lovell, visited NYSE to ring the Closing Bell. This July marks the 40th anniversary of the lunar landing.
Memo to a colleague:
I think it's great that you've got us signed on as the exclusive sponsor among equities and derivatives exchanges for the 2010 Shanghai World Expo. Just wanted to express my congratulations, and best wishes for a successful program.
Oh, and wanted to humbly offer my help, too. May I suggest that the Exclusive Exchange Sponsor could use an Official Exclusive Blogger? Reading the press release gave me a number of ideas to maximize the effectiveness of our participation. To cite just a few possibilities: . . .
We've had only 14 IPOs to date this year, but a healthy 134 secondary offerings. Duncan says those IPOs that have come to market have "set up well, their books have come together well, they've priced well and traded well."
One factor that is causing non-U.S. companies to wait on the sidelines: they're looking to see what comes of the U.S. regulatory reforms, their CEOs tell Duncan.
"A lot of the markets that got us in to trouble in the crisis were not regulated, they were not transparent there was really no accountability.
"Markets like ours are stable, reliable, transparent and highly regulated. We realize that we are going to enter a period of re-regulation that is necessary.
"And we find ourselves in a unique position to be part of the solution."
From Scott Cutler: I recently returned from my second trip to Brazil this year. The country has seized upon the opportunity presented by the crisis to vault onto the global stage. When the B and C in BRIC come together, the world takes note. China recently invested $10B into Petrobras, and also just passed the U.S. as Brazil's largest trading partner. Capitalizing on this global opportunity, President Lula, as well as executives from the largest Brazilian companies, have been touring the globe in China, U.S., Europe and the Middle East, raising capital from investors who see the alpha in Brazil.
From Jim Ross: Our markets may support alternative models but they should not support alternative trade-reporting standards.
NYSE customers are experiencing trade executions and reports within five milliseconds, as well as order and cancellation acknowledgments in just two milliseconds. "For the first time on NYSE, customers can employ the benefits of competitive speed and automation in addition to our longstanding value of high-touch price discovery on the only U.S. exchange cash equities trading floor," says Lou Pastina, executive VP of NYSE Operations.