Juniper Networks’ CEO, CTO and others will be at NYSE this morning to ring the Opening Bell and hold an analyst and press meeting on the occasion of the company’s transfer to NYSE from Nasdaq and the 40th anniversary of the Internet.
I had no idea the Internet was turning 40. Should I have baked Al Gore a cake?
From Todd Wilemon: A Tracking Order is a limit order that is not displayed and only activates to trade when certain specific conditions are met. Tracking Orders allow you to always trade on the NBBO or National Best Bid or Offer while also giving you the ability to choose the size of orders you will interact with and at a price range of your choosing.
Trading in a box? A 360 is kind of like a week's blogging in a box. And then some.
"[A]ny time you try a decent crime, you got fifty ways you're gonna [expletive] up. If you think of twenty-five of them, then you're a genius... and you ain't no genius."
-- Teddy Lewis, the ex-con played by Mickey Rourke in "Body Heat"
News from Booth 327 at the Futures & Options Expo in Chicago.
Plus, on this date in 1879: Edison invents something called an electric light bulb, and the Times reports, "Conflicting Statements As To Its Utility."
“This is an example of NYSE Euronext and the industry working together to develop a positive solution to address the lack of understanding regarding the extent and nature of ‘dark pool’ trading, which has been a concern for regulators and legislators.” -- Joseph Mecane, NYSE Euronext’s Executive Vice President and Chief Administrative Officer for U.S. Markets
From Feargal O'Sullivan, Managing Director, High Performance Messaging at NYSE Technologies:
NYSE Technologies' "Trading-in-a-Box" and RDMA over 10GigE Live Demonstrations -- To see Data Fabric™ and Market Data Platform V5™ in action with all North-American equities and OPRA feed handlers on one server, running on the Intel Xeon Nehalem-EX with 32-cores, and to quiz both NYSE Technologies and Intel experts, visit Booth #327 (demonstration available throughout the show). We'll also have a RDMA and TCP comparison demo for those interested in 10GigE and/or InfiniBand.
"A good day...for the hatmakers," I overheard Art Cashin quip on the NYSE trading floor at the close on Wednesday, when the Dow again closed above 10,000.
I am not kicking fully automated markets — we operate several ourselves — but I am suggesting that having people with assigned responsibilities to make fair and orderly markets in specific issues, and take action before such mistakes get to be much of a problem, is a benefit of the NYSE market model that is often overlooked.
"I think what's unique is the market model that's different. I think we have an ability, I view it as a real-time lever, where we've got a floor, we can intervene human judgment, and no other all-electronic marketplace can. Even our own all-electronic marketplace. We run the NYSE Arca platform that's all electronic to compete with the other all-electronic markets like Nasdaq, like Direct Edge, like BATS." -- Duncan Niederauer
Starting today, I'm trying something new: NYX Aggregator, a weekly summary of news from or about NYSE Euronext and its various markets, products, and services. Items from here, there and everywhere, filtered through the glass onion of yours truly, and I think that's enough Beatles references for one sentence. But hey, cut me some slack -- today is John Lennon's birthday.
More than a new look, it's designed to enhance the way business is done on the trading floor and in the NYSE market as a whole.
From my colleague Colin Clark in Strategic Analysis:
Since the rollout of the new market model in October 2008, NYSE continues to evolve and grow its three unique liquidity provider programs: 1) Designated Market Makers (DMMs), 2) Supplemental Liquidity Providers (SLPs), and 3) Floor Brokers. The volume traded by this group has nearly doubled in 11 months. Together these programs account for 26% of NYSE volume, up from 13% in November 2008. NYSE’s low take fees, coupled with the strong liquidity provision from the DMMs and SLPs, help make NYSE a superior venue to send your orders.
From Marisa Ricciardi: NYSE Euronext and Visa Inc. partnered to reinforce their commitment to financial literacy and present a satellite media tour for Financial Football, Visa's free interactive video game aimed to put personal finance skills to the test.
