- Aug
- 31
- 2009
- 5:17 PM
Summit to Discuss Global Financial Crisis and Road Ahead
- By: Ray Pellecchia
- File Under: NYSE Euronext
Live via Webcast this Wednesday -- leaders in business, politics and higher education discuss: "Where Do We Go From Here?"
Live via Webcast this Wednesday -- leaders in business, politics and higher education discuss: "Where Do We Go From Here?"
From Marisa Ricciardi: Congratulations to American Dairy, Inc. for its great success traveling the pipeline within the NYSE Euronext marketplace.
From Todd Wilemon: PNP+ Complex guarantees the sender price improvement over the screen markets, without a Price Improvement Auction. It will never interact with leg markets.
“Movers & Changers” calls on 16-28 year old college students, individually or in teams of up to three people, to develop and produce a compelling business proposal to revolutionize the future of the world’s social market. Ideas must be creative, original, and scalable to large corporations, in addition to illustrating determination and persistent optimism.
From Todd Wilemon: ALO orders never take liquidity, neither on Arca, nor by routing to an away exchange. Like all of our innovative order types, the ALO is designed to give you the power to control how you interact in the marketplace on NYSE Arca.
From Steven Poser: Spreads have narrowed since Reg. NMS implementation for the highest-volume stocks, where high-frequency trading tend to be more prevalent.
PNP LO orders do not route off NYSE Arca; once they are posted to the book they process like standard limit orders. Non-marketable orders will post to the book and stand their ground against updates to away markets BBO (Best bid or Offers) and follow standard order processing.
Had we been completely electronic, the erroneous orders would have just ripped though the market, taking the stock price down until the mistake was discovered later, then probably being cleaned up with hundreds or thousands of trade cancellations.
Commencing on Aug. 24, 2009, NYSE Arca Options will begin accepting PNP Blind orders. This order type has been a big success on the equity side and NYSE Arca Options is delighted to add it to the suite of unique order types we offer to our options participants.
Reuters reports from Brazil today:
* NYSE expects 20 IPOs in 2009, up from 15 so far
* Company encouraged for 2010 IPOs on filings backlog
* NYSE CEO says high-frequency trades should be encouraged
From Marisa Ricciardi: On Monday, August 10, Bernie Williams visited the NYSE to ring the Closing Bell and to celebrate the success of his smooth jazz radio single “Go For It” off the track of his second album, Moving Forward.
From Todd Wilemon: Come Monday, Aug. 31, 2009, options markets will transition from the linkage hub to direct order routing. That is where the ISO comes in. ISO stands for intermarket sweep order which will allow exchanges to route orders to other markets directly instead of having to send them through a central hub.
From Marisa Ricciardi: Today nyse magazine achieved two milestones –the release of its 50th issue and the results of its fifth annual CEO survey, the NYSE Euronext 2010 CEO Report.
We fight and compete hard for every order, and we remain the over all market leader for trading in our listed issues. But market share has to be viewed in context.
I can tell you from the inside, there has indeed been a cultural transformation. The market that once waited for companies to mature elsewhere before listing them now competes for them even before their IPO. That marks a cultural shift. So does the fact that our CEO candidly tells a customer that our technology has to get faster, and then goes out and *makes it faster*.
Here are some facts from today's press releases about the two IPOs, to offer some perspective.
I thought it might be neat to post all of the interviews in one place as they become publicly available, to offer a quick look at how one CEO tells the story of his company on a milestone day.
Yes, that's a single trade -- more than 347 million shares.
I was on the floor for the close, and the final trade went smoothly, with dozens of brokers in the crowd, providing color to customers; imbalances disseminated automatically right up to the close; more than 100 customers on an open phone line with our staff to get operational updates; an ideal blend of high-touch and high-tech elements.
These products represent NYSE Liffe US’s entry into a new asset class beyond the initial gold and silver contracts it opened with in September 2008.
"The motivation behind building out the RMG is to effectively provide an exchange facility service that allows our customers, the sell side firms, to connect to their customers in a way that fulfills anticipated regulatory requirements and agrees with what we think is a safe and orderly way to operate that function in the marketplace," said Murray White, senior vice president of NYSE Technologies.
Plus, an interesting historical tibit for today, remembering back to when the market sailed the high seas just before it sunk to the bottom.
"Neil Catania, chief executive of MND Partners, is a believer. The trader has been on the floor for 27 years and is looking to expand his 12-person operation to 40 traders over the next year or so. He has considered opening an upstairs desk, but has decided to work with the exchange on the pod project." reports Traders magazine.
Forbes breaks down the conversation into the following chapters:
• NYSE's Optimist
• Rebranding Specialists
• Trading Technology
• Fast Money
• Blocking The Blocks
• Naked Shorts
• Regulatory Reform
• CDS Clearing
• Lending Standards